Apple claims its headquarter buildings are worth "$200.00" to pay less taxes

[Hydrogen]

Concerns over Apple's elaborate efforts to reduce its tax bill are nothing new. The company — which hit a historic $1 trillion valuation this month— was punished in 2016 for a tax deal in Ireland, which the EU said amounted to illegal state aid.

But a newly discovered tactic has reignited the debate about the company's tax contributions. The San Francisco Chronicle reported over the weekend that Apple was "aggressive in opposing tax assessors," the public officials who determine the value of property for tax reasons.

Apple may be the biggest taxpayer in Santa Clara County, where its Cupertino headquarters is based, but The Chronicle said it had 489 open tax appeals in the area, disputing $8.5 billion (£6.7 billion) in property value.

In a 2015 appeal, Apple claimed that a "cluster of properties" around Apple Park was worth $200, rather than the $1 billion figure alighted on by Santa Clara County's tax assessor. In another, Apple said a property valued at $384 million by local officials was also worth $200, The Chronicle said.

"These are major cases, and publicly, they kind of go under the radar screen," Santa Clara County assessor Larry Stone said. Companies are prepared to spend millions of dollars on lawyers to appeal tax rulings, he added, "but there's millions at stake."

Business Insider has contacted Apple for comment. The company declined to comment when approached by The Chronicle.

Apple CEO Tim Cook has said the firm pays its taxes properly. "In every country where we operate, Apple follows the law and we pay all the taxes we owe," Cook said in an open letter in 2016.

https://www.businessinsider.com/apple-trying-to-reduce-cupertino-tax-bill-2018-8

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This might sound ridiculous but sometimes large corporations get away with things like this.

It can be cheaper and more affordable for large corporations to lobby politicians to provide tax cuts, than it is to pay taxes.

Should apple have to pay taxes on the full worth of its headquarter buildings? Or does it deserve to pay taxes on only $200 dollars worth of real estate on apple employing individuals and creating new jobs out of its apple stores?

Also should bitcoin miners also receive tax cuts as they provide a real benefit to society in keeping bitcoin running so people have money to use after fiat currency is done being overprinted into hyperinflation?

There could be a paradigm here whereby large players in the economy receive more tax cuts and breaks than small players. How to we shift the paradigm in a way which favors smaller players and incentivizes a tax system that is more fair and equal for all?

[dothebeats]

This is how corporations get away with almost anything, especially with tax cuts and the likes. As long as you can control a politician and influence them with your $$$, you can get away with almost any legal implications whatsoever. A $200 value of property is nuts and just goes to show how America and other countries are being fucked by the corporations on their own soil. If the giant corporations themselves don't want to pay taxes, how would the common folk love to do their obligations if the well-offs are revolting against it?

[d57heinz]

This is how corporations get away with almost anything, especially with tax cuts and the likes. As long as you can control a politician and influence them with your $$$, you can get away with almost any legal implications whatsoever. A $200 value of property is nuts and just goes to show how America and other countries are being fucked by the corporations on their own soil. If the giant corporations themselves don't want to pay taxes, how would the common folk love to do their obligations if the well-offs are revolting against it?

Exactly. Lead by example. But america is the land of hypocrisy. Do as I say not as I do.  Make sure to pay your taxes. So that we can subsidize the likes of Apple.  Fml

BR

[davis196]

Bitcoin miners shouldn't receive tax cuts,because they use dirty energy for crypto mining.
They can use tax cuts,only if they adopt green energy production technologies.
Well,we can't blame Apple for trying to find a legal way to pay less taxes.We have to blame IRS for not going their job properly.

[1Referee]

Bitcoin miners shouldn't receive tax cuts,because they use dirty energy for crypto mining.
They can use tax cuts,only if they adopt green energy production technologies.

Miners are already working towards renewable energy.

The problem here is that the main concern for policitians isn't Bitcoin's energy consumption, but Bitcoin itself. They just use Bitcoin's energy consumption as a smoke screen to hide their toxic motives. Even if Bitcoin's network is being maintained for 100% with renewable energy, the hypocrites that politicians are will find something else to blame Bitcoin for.

We have to blame IRS for not going their job properly.

We have to blame the entire system for ridiculous taxation policies. If every person and business was taxed fairly, there would be no need to hide your wealth or undervalue properties. It's done for a reason.

[carlisle1]

Bitcoin miners shouldn't receive tax cuts,because they use dirty energy for crypto mining.
They can use tax cuts,only if they adopt green energy production technologies.

Miners are already working towards renewable energy.

The problem here is that the main concern for policitians isn't Bitcoin's energy consumption, but Bitcoin itself. They just use Bitcoin's energy consumption as a smoke screen to hide their toxic motives. Even if Bitcoin's network is being maintained for 100% with renewable energy, the hypocrites that politicians are will find something else to blame Bitcoin for.

We have to blame IRS for not going their job properly.

We have to blame the entire system for ridiculous taxation policies. If every person and business was taxed fairly, there would be no need to hide your wealth or undervalue properties. It's done for a reason.

Absolutely right mate.they are not running against everything about bitcoin but instead the bitcoin itself,or maybe the benefits of this coin ishat they wanted for their own usage.i believe that the only way for us to escape this political harassment is to make our own connection to the higher ups by providing politicians that has been crypto enthusiast so will understand whats the need to make this all better for future

[d57heinz]

Bitcoin miners shouldn't receive tax cuts,because they use dirty energy for crypto mining.
They can use tax cuts,only if they adopt green energy production technologies.
Well,we can't blame Apple for trying to find a legal way to pay less taxes.We have to blame IRS for not going their job properly.

Ok. As if the irs can keep up with the countless ways these corps are coming up with to scam out on their share.  They use the same roads we do. They benefited by having an infrastructure in place so that they could flourish.  If you can’t understand that then idk what to tell you.  Yea I’m as pissed off as everyone else is or should be about the politicians lining their interests and pocket with our hard earned money. And since the whole system is rigged from the top down it’s becoming increasing hard to get by. (I’m certain this is by design)  Credit cards just to make it by for the week knowing eventually your time will come.  Anyway. It’s a about just being honest.  When your valued near 1triion I think it’s ludicrous that your doing so at the expense of the American people.  How about not abusing the system.  It’s GIVE and take.  Not take, take, take, till their is nothing left then dump and run. Kinda reminds me of a story about bitmain. Anyway off my soap. I have wrk to get done today so that I can pay my cc and the man

BR

[timerland]

This might sound ridiculous but sometimes large corporations get away with things like this.

It can be cheaper and more affordable for large corporations to lobby politicians to provide tax cuts, than it is to pay taxes.

Should apple have to pay taxes on the full worth of its headquarter buildings? Or does it deserve to pay taxes on only $200 dollars worth of real estate on apple employing individuals and creating new jobs out of its apple stores?

Also should bitcoin miners also receive tax cuts as they provide a real benefit to society in keeping bitcoin running so people have money to use after fiat currency is done being overprinted into hyperinflation?

There could be a paradigm here whereby large players in the economy receive more tax cuts and breaks than small players. How to we shift the paradigm in a way which favors smaller players and incentivizes a tax system that is more fair and equal for all?

The main thing is that Tim Cook says that they pay everything that they owe, when they've literally evaded on potentially millions in tax revenue in the jurisdiction where they operate. The fact that they literally put $200 down as the value of the properties is also absurd.

It's definitely not just Apple either, there are countless other multinational companies doing the exact same thing. This is only covered in light of recent news of Apple reaching a market cap of $ 1 trillion.

Bitcoin miners are creating value for society by essentially maintaining the bitcoin network, however, the government definitely will not acknowledge this any time soon. Besides, bitcoin miners do not have much lobbying power, which these corporations do have.

[BCSHonda]

Bitcoin miners shouldn't receive tax cuts,because they use dirty energy for crypto mining.
They can use tax cuts,only if they adopt green energy production technologies.

Miners are already working towards renewable energy.

The problem here is that the main concern for policitians isn't Bitcoin's energy consumption, but Bitcoin itself. They just use Bitcoin's energy consumption as a smoke screen to hide their toxic motives. Even if Bitcoin's network is being maintained for 100% with renewable energy, the hypocrites that politicians are will find something else to blame Bitcoin for.

We have to blame IRS for not going their job properly.

We have to blame the entire system for ridiculous taxation policies. If every person and business was taxed fairly, there would be no need to hide your wealth or undervalue properties. It's done for a reason.

These are considered to be impure impure manifestations. The main purpose is to take possession of our wealth assets. Excessive nonsense nothing. Need to clarify more for us to avoid unfairness for everyone.