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Thursday, 23/05/2013
Apple accused of using tax avoidance tactics
Apple allegedly "quietly negotiated" an income tax with Ireland of less than 2% in order to avoid paying US tax, a recent congressional hearing revealed....

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Wednesday, 22/05/2013
Step it up for Cancer Research!
The Taxback Group is sponsoring in the annual Cancer Clinical Research Trust (CCRT) cliff walk on Saturday 14th September 2013, and we want you to join us!...

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Tuesday, 21/05/2013
Taxback Group director discusses European Business Award success on Newstalk
Pat Macken - Taxback Group Director, appeared on Newstalk`s "Down to Business" programme with renowned entrepreneur, Bobby Kerr to discuss the success the Group has enjoyed as a result of winning a European Business Award....

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Wednesday, 15/05/2013
Taxing times for French smartphone users
The French Government has aimed to introduce a 1% tax on the sale of smartphones and tablets. It`s estimated that this move could net around â‚86m per year which would help to fund French film and music in a bid to protect French culture....

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Tuesday, 14/05/2013
Deadline for tax-exempt organisations approaches in US
Tomorrow is the deadline for tax exempt organisations to file their annual report....

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Friday, 10/05/2013
Taxback.com makes donation to the Greenheart Club
This year, we have focused on expanding our global CSR initiative; most recently, we donated $5,000 to The Greenheart Club, part of Greenheart International, to provide travel scholarship opportunities to its members....

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Thursday, 09/05/2013
Choose your tax advisor carefully
Beware of inflated tax refunds as they are often the hallmark of a bad tax advisor....

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Thursday, 09/05/2013
Winners of our Taxback.com Website Survey Competition
Winners of our Taxback.com Website Survey Competition were delighted when we contacted them recently to share the good news of their wins....

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Wednesday, 08/05/2013
Taxback.com makes donation towards Astro-turf pitch in Kilkenny Gaelscoil
Gaelscoils, popular throughout Ireland, are schools where the children learn through the Gaelic language, the ancient indigenous language of Ireland....

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Tuesday, 07/05/2013
Irish Tax Update: Retirement Annuity Credit Removed from 2013 Tax Credit Certificate
It was reported in the press over the weekend that Revenue has removed the Retirement Annuity Contract (RAC) tax credit from all taxpayers` Tax Credit Certificate for 2013....

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Apple accused of using tax avoidance tactics

23 May 2013

Apple allegedly “quietly negotiated” an income tax with Ireland of less than 2% in order to avoid paying US tax, a recent congressional hearing revealed.

The tax regime in Ireland is known as a “Tax Haven” for US companies to minimise their US taxes. An investigation by the Senate claims that this multinational company shifted tens of billions of dollars through “ghost companies” in Ireland to avoid paying these US taxes.  

A hearing was held to see how these large corporations use loop holes to move offshore tax payments and avoid paying taxes in the US. Apple Operations International (AOI), Apple’s Irish subsidiary, which was incorporated in 1980, was the “apex” of the company’s tax avoidance strategy. Apple Sales International, another Apple subsidiary, received $36 billion income just last year alone, in a nation where it has paid almost no income tax and no US taxes.

Apple’s claim that its two Irish companies owe no US taxes is “a sham,” said Senator Levin. The panel explained how Apple’s Irish-registered companies had no physical address and has never had any employees in its 30 years of existence. All of the accounting records are held in Texas and the assets are held in a New York bank account. The board for the Irish companies consists of two Apple employees and an Irish employee of Apple Distribution International, an Irish company that AOI owns. Senator Levin explains that for six years, and out of the 33 board meetings that took place, the Irish resident-director only took part in 6 of them.

The subcommittee said that Apple has been using “transfer pricing” by moving profits away from the US into a low tax country, which in this case is Ireland.

The Irish Government has disagreed with claims that it negotiated a special corporate tax rate with Apple.

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