Luc Posted May 22, 2013 Posted May 22, 2013 Apple says things about Tax.... Tim Cook warns Congress that he would refuse to repatriate $100bn stashed offshore unless US severely reduced its 35% tax rate... Apple chief calls on US government to slash US corporate tax... How do these guys effect us here in Oz? A direct quote from the page linked too. : \ I think it's a refreshing change. No more of this back-room lobbying and campaign funding: we're into an era where corporations just publicly, flat-out dictate the laws they wish to see enacted. As you say, it's nothing new in reality, but if democracy is going into the dustbin of history we may as well be honest about it. The Rubicon has been crossed and our new dictators are making themselves comfortable. What do you guys think?
mikey d Posted May 22, 2013 Posted May 22, 2013 Haven't Australia's mining magnates employed those tactics to topple an elected PM. The Murdoch press will make sure that Labor loses the next election. Those machinations have been rather subtle compared Us corporations. Haliburton wanted a war & they got one. Monsanto wants to monopolise crop production & therefore had laws passed to enshrine their position. Democracy, leadership of the people, for the people, is a principle that has long ceased to exist in reality. 1
mello yello Posted May 22, 2013 Posted May 22, 2013 What do you guys think? I think Rollerball could be chillingly more prophetic than 1984 but then again, thinking could have its own
wolster Posted May 22, 2013 Posted May 22, 2013 Luc, I think it says a lot about Apple as a corporate citizen - the worst kind setting a bad example.
Jventer Posted May 22, 2013 Posted May 22, 2013 As we are in the Chill out room There is Corporate responsibility. There is the responsibility to the community. There is advertising and supporting various causes. There is the spirit of the law. There is the letter of the law. There is shareholder expectations and returns. There are national issues and there are international issues Lets look at Apple. Whilst I do not have an opinion on what they and others are doing, lets look at who is benefitting from their operations. As a company they are paying their employees remuneration. These individuals have to pay tax in their relevant tax jurisdictions. People buying the products pay GST, VAT and maybe other taxes on the products they buy in the relevant jurisdictions. IMO the remaining issue is therefore the fact that Apple apparently is paying less tax than expected in the USA because it has agreements with other governments. So, who should we blame, Apple or the other countries? IMO any listed company has a duty to its shareholders. It should abide by all laws of all countries, with the the ultimate goal a return to its shareholders. In the case of Apple its shareholders may be spread all over the world - which does not make the argument any easier. From a USA perspective the Apple scenario does not look fair and equitable. From an international or shareholder perspective it looks like Apple is doing the best for its owners. I do not have the answers, but would suggest that listed companies has the responsibility of abiding by the relevant laws of the relevant jurisdictions in the process of doing the best for its shareholders. There are no specific answers, I think the end result is the system of checks and balances, of citizens keeping governments honest and countries keeping others honest. In the process we we will win some and lose some. The important thing is to keep dialogue open and to continously talk and address these issues (while we are listening to good music).
mrbuzzardstubble Posted May 22, 2013 Posted May 22, 2013 I posted something on another thread a while ago on Apple's Amazon's and Google's tax havens.
Briz Vegas Posted May 22, 2013 Posted May 22, 2013 (edited) Tax minimisation isn't it. Aren't corporations required by law to maximise profit lawfully. Loopholes aren't excluded. Corporations get away with going too far because we let them. Doesn't every second person love wearing a corporate logo just because its status and we all know that like it or not its bad not to have status. It's the minority that would not be seen dead under one corporate banned or another. Myself, I heart Huckerbees. Edited May 22, 2013 by Briz Vegas
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