tech companies have 89 billion in taxes offshore

[norseamd]

http://arstechnica.com/business/201...89b-in-taxes-if-offshore-govt-debt-came-home/

 

[highland145]

“We pay all the taxes we owe—every single dollar. We not only comply with the laws, but we comply with the spirit of the laws. We don’t depend on tax gimmicks. Apple carefully manages its foreign cash holdings to support its overseas operations in the best interests of its shareholders. Apple pays an extraordinary amount in US taxes.”

Enough said.

 

[MomentsofSanity]

Yup it's only a bad thing to take advantage of the law and what is provided under it if you're an individual on any kind of assistance. Then you're a monster.

 

[dphantom]

any this is wrong why? As long as companies are complying with the law, what is the problem? If you don't like the law, change it. But don't blame companies for doing their best to manage their business.

 

[PokerGuy]

any this is wrong why? As long as companies are complying with the law, what is the problem? If you don't like the law, change it. But don't blame companies for doing their best to manage their business.

This, exactly this. Idiots whine and complain about companies "dodging" taxes or using "loopholes". It's basic logic and we all do it on an individual level as well (as we should), we try to minimize our tax liability within the confines of the law. If you break the law, that's another story, but as long as you stay within the law, I see no problem.

 

[Hayabusa Rider]

This, exactly this. Idiots whine and complain about companies "dodging" taxes or using "loopholes". It's basic logic and we all do it on an individual level as well (as we should), we try to minimize our tax liability within the confines of the law. If you break the law, that's another story, but as long as you stay within the law, I see no problem.

The solution would be to craft proper legislation.

 

[Zargon]

hiding cash overseas to not pay taxes is complying with the spirit of the law?

 

[highland145]

The solution would be to craft proper legislation.

It was crafted by politicians that had their palms greased over and over. Why are some upset at the companies?

hiding cash overseas to not pay taxes is complying with the spirit of the law?

Thought that was a good line too.

But it's not hidden. They just didn't bring it here to be taxed. For profit companies.

 

[boomerang]

This thread quickly got to the root cause of the problem - the government. The deniers, the evil corporations crowd, can now take over and argue why what is obvious is not the "truth".

 

[PokerGuy]

hiding cash overseas to not pay taxes is complying with the spirit of the law?

You call it "hiding", just like some call some things "loopholes" when in fact they are just part of the tax law like any other part. There's nothing hidden about it, it is just not in this country. There is nothing wrong with looking at the tax law and taking the actions to minimize your tax liability. There is nothing wrong with moving assets around to put you in the best tax position.

The problem is the tax laws, not those who follow it.

 

[Sonikku]

They're just following the law. Don't like it? You have the same right to donate millions to congress super pacs to get those tax loopholes added same as the corporations do.

 

[Zargon]

You call it "hiding", just like some call some things "loopholes" when in fact they are just part of the tax law like any other part. There's nothing hidden about it, it is just not in this country. There is nothing wrong with looking at the tax law and taking the actions to minimize your tax liability. There is nothing wrong with moving assets around to put you in the best tax position.

The problem is the tax laws, not those who follow it.

Did you miss the SPIRIT OF THE LAW part

the us company makes $$ it pays taxes on it, that's the spirit of the law

leaving out in a place where you can use it, and its still profit, but not pay taxes on it, would violate the spirit of the law

Im not saying they aren't being LEGAL, but they claimed to follow the spirit of the laws as well, which is total BULLSHIT

I never claimed to not use deductions to save some $$, but I never claimed to follow the spirit of tax law either

 

[1prophet]

Maybe those individuals that were vilified in this thread should get together and pay off congress to give them a tax free loophole for their swiss bank accounts.

http://forums.anandtech.com/showthread.php?t=2365316&highlight=swiss

If corporations are people too why can't you.:whiste:

 

[FerrelGeek]

As long as it remains legal, companies will do it. Can hardly fault them for saving money, it's what I would do if legal.

This.

Companies do whatever they can to maximize their profits, thereby making shares of their company more attractive to investors. You know, like the fund managers that try to pick good stocks for your 401k, IRA, pension funds, etc.

 

[BoberFett]

They're just following the law. Don't like it? You have the same right to donate millions to congress super pacs to get those tax loopholes added same as the corporations do.

You don't think the NAR donates millions and makes sure the mortgage deduction stays in place?

 

[werepossum]

Enough said.

Yep.

Though it is insane that our government penalizes bringing foreign profits into the country rather than penalizing taking money out.

 

[zinfamous]

Yup it's only a bad thing to take advantage of the law and what is provided under it if you're an individual on any kind of assistance. Then you're a monster.

exactly:

Corporations dodging billions of dollars per year, because it's legal: patriotic job creators.

Poor people getting free meals, because it's legal: communist monsters destroying our country.

 

[Fern]

Did you miss the SPIRIT OF THE LAW part

the us company makes $$ it pays taxes on it, that's the spirit of the law

leaving out in a place where you can use it, and its still profit, but not pay taxes on it, would violate the spirit of the law

Im not saying they aren't being LEGAL, but they claimed to follow the spirit of the laws as well, which is total BULLSHIT

I never claimed to not use deductions to save some $$, but I never claimed to follow the spirit of tax law either

It's been a while since I've done any work on international taxation for corporations, but IIRC they are following the spirit of the law.

The law whereby we allow our corporations conducting business abroad to defer taxation on foreign profits until repatriated is intentional, not a loophole, and designed to place US corporations on a equal footing with their non-US competitors.

So, the mere fact that US corporations have money abroad isn't an indication of any violation of the spirit of law.

Are there any abuses? I would think so. There are always tax attorneys and CPA's willing to push the envelope and it's up to the IRS to monitor them. Unless thing shave changed dramatically, I bet the IRS has agents on site year around doing just that.

Fern

 

[MrPickins]

any this is wrong why? As long as companies are complying with the law, what is the problem? If you don't like the law, change it. But don't blame companies for doing their best to manage their business.

To get enough people on board to enact change, this behavior has to be brought to light.

Nothing wrong with discussing it...

 

[her209]

exactly:

Corporations dodging billions of dollars per year, because it's legal: patriotic job creators.

Poor people getting free meals, because it's legal: communist monsters destroying our country.

Poor people do drugs and vote illegally dontchaknow?

 

[highland145]

Though it is insane that our government penalizes bringing foreign profits into the country rather than penalizing taking money out.

Yep. Insane that that $$ could be used to build factories and shit. Crazy talk.

 

[RampantAndroid]

hiding cash overseas to not pay taxes is complying with the spirit of the law?

....uhh, you realize most of that money is actually made in other countries, yes? As in, it's income in OTHER countries, taxed there and remains there to support their overseas business. Why should they move it stateside, pay taxes on it to move it again back out of the states?

 

[Anarchist420]

the State supports the well connected the most, but no one should have to pay taxes so i am happy that apple chose to pay less taxes.

why they dont get rid of the corporate tax code beats my meat.

 

[her209]

Why couldn't a foreign company make a 0% loan to a US-based business that happened to be owned by the same parent corporation?

 

[Brainonska511]

....uhh, you realize most of that money is actually made in other countries, yes? As in, it's income in OTHER countries, taxed there and remains there to support their overseas business. Why should they move it stateside, pay taxes on it to move it again back out of the states?

I'd hardly call things like the Double Irish arrangement, where companies set up wholly-owned foreign subsidiaries to license patents back to themselves in the US as staying within the spirit of the law.

http://www.nytimes.com/interactive/...Irish-With-A-Dutch-Sandwich.html?ref=business