The rich get richer and the poor get poorer

Topper

Amo Amas Amant Admin
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How Apple's phantom taxes hide billions in profit
By PETER SVENSSON | Associated Press

NEW YORK (AP) — On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won't reflect its true profit, because the company hides some of it with an unusual tax manœuvre.
Apple Inc., already the world's most valuable company, understates its profits compared with other multinationals. It's building up an overlooked asset in the form of billions of dollars, tucked away for tax bills it may never pay.
Tax experts say the company could easily eliminate these phantom tax obligations. That would boost Apple's profits for the past three years by as much $10.5 billion, according to calculations by The Associated Press.

Full story
-http://news.yahoo.com/apples-phantom-taxes-hide-billions-profit-183821426--finance.html
 

2cvbloke

Bulbs need shelter too...
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So, they're not only suing other companies without good cause, but they're also tax dodgers? Hardly surprising I suppose... O-Ha

I'm wondering if without Jobs at the helm, they'll end up spiralling down the swanny again (Apple almost went under before they brought him back after they sacked him), he was the head salesman for apple, while Steve Wozniack (who a friend of mine actually met and chatted to for a while in an apple store) was the guy who designed many things apple offers, but never really could sell much by himself, so, who knows, with all the legal sillyness going on, they may just damage their own reputation enough to make people think otherwise about buying into their products... :confused
 
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