Apple rejects allegations made by Paradise Papers

People are silhouetted against a backdrop projected with the picture of various currencies of money in this illustration taken April 4, 2016. PHOTO: REUTERS

Apple said none of its operations were moved from Ireland and that changes made to its corporate structure in 2015 were specially designed to preserve tax payments to the United States, and not to reduce taxes anywhere else.

The statement on Monday from Apple comes following criticism of its tax affairs after reports based on the “Paradise Papers” showed that the iPhone maker shifted key parts of its business to Jersey as an offshore tax haven in a move to maintain a low tax rate.

The “Paradise Papers” are a trove of financial documents leaked mostly from Appleby, a prominent offshore law firm.

The documents were obtained by Germany’s Sueddeutsche Zeitung newspaper and shared with the International Consortium of Investigative Journalists (ICIJ) and some media outlets. Reuters has not independently verified them. Appleby was not immediately available for comment.

Apple said it pays billions of dollars in taxes to the United States at the statutory 35 per cent rate on investment income from its overseas cash.

Last month, Apple responded to questions from the ICIJ and others revealing that when Ireland changed its tax laws in 2015, the company complied by changing the residency of its Irish subsidiaries and informed Ireland, the European Commission and the United States.

The changes made did not reduce its tax payments in any country, according to the company. Apple is the largest taxpayer in the world, paying over $35 billion in corporate income taxes in the last three years, according to the statement.

Comments

HP launches a new range of EliteBooks with built-in webcam cover

HP’s new EliteBook range this year provides a shutter for webcam and external mic for better voice distribution with other tools for their users. HP has recently launched a new range of EliteBook 800 series laptops and monitors but main pointers of these products in a public view are: which is used to cover Webcam , so you are ensured that one is not being watched. Secondly, Mics on both sides for clearer sound are also added. The three new refreshed models of HP’s EliteBook are providing a shutter for webcam in their default configuration. The models are dubbed as the fifth-generation EliteBooks 830, 840, and 850, as reported by The Verge . But if you want to upgrade your system into touchscreen than according to HP’s management the bezels don’t have enough space to include cover for Webcam too. HP isn’t the only one with this feature, two years back Lenovo provided Webcam cover in its ThinkPad laptops but respectively this feature is still new in sense of security.

POS

POINT OF SALE Point of sale (also called POS or checkout , during computerization later becoming electronic point of sale or EPOS ) is the place where a retail transaction is completed. It is the point at which a customer makes a payment to the merchant in exchange for goods or services. At the point of sale the retailer would calculate the amount owed by the customer and provide options for the customer to make payment. The merchant will also normally issue a receipt for the transaction. The POS in various retail industries uses customized hardware and software as per their requirements. Retailers may utilize weighing scales, scanners, electronic and manual cash registers, EFTPOS terminals, touch screens and any other wide variety of hardware and software available for use with POS. For example, a grocery or candy store uses a scale at the point of sale, while bars and restaurants use software to customize the item or service sold when a customer has a special meal or dr

Make Your Donations and Deliver Change with Yayvo This Ramadan

Yayvo came up with a creative idea this year with their well-received isMay box. The box came with goodies, many of them in pairs. The idea was to share the goodness with others, specially the deserving. In addition to that, the box could be refilled with items such as clothing, stationery, toys, books etc; and return to any TCS Express Center for the items in the box to be given to Saylani Trust. This message of Delivering Change came just in time for Ramadan, fostering a spirit of giving to those in need. Ramadan is all about sharing blessings and caring for fellow human beings. The spirit of giving continues with Delivering Change in Ramadan through Yayvo.com . You can donate to various charities under four causes (Health, Education, Vocational Training and Act of Kindness). 5 Best Free Antivirus Software to Keep Yourself Protected Through Yayvo Delivering Change, even those who didn’t receive an isMay box can donate and play their part at making ours a better soci

Tech Hugger

Search This Blog