Connect with us

Phone News

Apple paid less than 1% Corporate Tax in Ireland, slapped a €13 billion bill by EU



Apple is one of those companies which just can’t keep itself away from the news. For good or for bad reasons, this company manages to come under spotlight every single time. But hold on, this time, it’s not an iPhone 7 news. This time, the company has been slapped a sum of $14.5 billion bill. Yes, you read that right.

The European Union on Tuesday ordered Ireland to collect $14.5 billion in unpaid taxes from the company. In case you missed it, we’re talking about billion here, and that is certainly not a small amount. It is reported that Apple’s illegal deals with the Irish government allowed the technology giant to pay virtually nothing on its European business in some years. These arrangements enabled Apple to draw some profit out of this whole deal. By doing so, Apple paid only 50 euros in taxes for every million euros in profit during 2014.

Apple sets a new Milestone with 1 Billion iPhones Sold in 9 years

Hence, Europe demanded Ireland to collect ten years worth of back taxes, which sums up to about $14.5 billion plus interest. Apple put out a statement commenting on this. It stated that the company follows laws and pays all of the taxes they owe, regardless of where they operate. The company stated that it is going to appeal as well, and they are confident that the decision will be overturned. Note that Irish Government soon followed suit agreeing to an appeal as well.

It is quite surprising to see how the Cupertino giant has gotten away with just 1 percent tax when the standard Irish corporate is about 12.5 percent, which is one of the lowest in the developed world. The United states Government is also an unlikely advocate here. Politicians have berated Apple for paying too little by setting up such complex tax structures. So let’s see how this unfolds now. Stay tuned for more info on this.

Continue Reading

Recommended Video

Connect on Facebook

Top 5

Top 53 months ago

Top Features of the Vivo V7 Plus Smartphone

Vivo has finally unveiled the all-new selfie-centric smartphone dubbed Vivo V7 Plus in India. Though it is the successor to V5...

Top 55 months ago

Top 5 Best Performing Smartphones Under Rs 30,000 You Can Buy in August 2017

2017 has been an amazing year for smartphones. We have seen some really great smartphones launching this year so far...

Top 57 months ago

Top 5 Features of the Panasonic Eluga Ray Smartphone

Panasonic launched the new Eluga Ray smartphone here in India a couple of weeks back. This is yet another offering...

Top 51 year ago

Top 3 Smartphones from UMi you should take a look at

UMi is a Chinese smartphone manufacturing company that has launched a couple of smartphones previously. The smartphone manufactured by the...

Top 51 year ago

Fix Top 5 Pokemon Go Problems like Server Issues, GPS error, Battery Drain

Pokémon Go by Niantic began rolling out to players across the globe, and like all any other new game release,...

Top 51 year ago

Top 5 Features of Samsung Galaxy On5 Pro & On7 Pro Smartphones

The South Korean smartphone manufacturer Samsung, has been doing pretty good job with the budget smartphone lineup. They have introduced...

iPhone 6s - 1750mAh Battery iPhone 6s - 1750mAh Battery
Top 51 year ago

5 Tips to Make your Smartphone Battery Last till the End of the Day

Smartphones are the most useful piece of gadget that we own, which helps us get our jobs done easily. We...

Samsung Galaxy S6 Edge Plus - Top Features Samsung Galaxy S6 Edge Plus - Top Features
Top 52 years ago

5 Most Important Features of Samsung Galaxy S6 Edge+

Samsung fans must be in awe this year, as they’ve got to see two new flagship devices within the span...

Top 5 Missing Features on Samsung Galaxy Note 5 Top 5 Missing Features on Samsung Galaxy Note 5
Top 52 years ago

Top 5 Missing Features on Samsung Galaxy Note 5

Samsung has launched the much-anticipated smartphone ‘Galaxy Note 5‘ with not much improvements over specifications, but you can find the...

Samsung Glaxat Note 5 Featured image Samsung Glaxat Note 5 Featured image
Top 52 years ago

Top 5 – Most Important features of Samsung Galaxy Note 5

Samsung Galaxy Note 5, the biggest announcement by Samsung Mobiles in New York. The features of the device are pretty...