Apple, the tax piñata, settles to pay £136 million more after audit in the UK

Apple, the European authorities favorite tax piñata, is getting hit with another bill shock, this time after “an extensive audit” done by Her Majesty’s Revenue and Customs in the UK. 

Apple Europe, which is the core company providing administrative, financial, marketing and other support to various Apple subsidiaries, was accused of hiding revenue by artificially lowering the price for its services to said subsidiaries. 
HM Revenue and Customs calculated that Apple Europe should have paid £136 million more in taxes up to 2015, on top of everything …


Thanks, GOP! AT&T will give employees $1000 holiday bonuses when tax cuts pass

It’s not only T-Mobile that will benefit from the tax cut bonanza that Congress and Senate just passed, AT&T employees could feel the love, too. There seems to be a concerted effort to prove the trickle-down economic theory right, as many companies announced they will invest in the US and/or give employees bonuses if the tax reform passes before Christmas. We don’t know what kind of hand-twisting has been going on behind the curtain, but AT&T was one of the first to bring the good news. Besides $1 billion in new US investments, AT&T said that it will be able to give $1000 to more than …

Apple's tax heaven cash repatriation will be a windfall for Uncle Sam

How much does the Treasury stand to gain if Apple takes advantage of the one-off 15% tax rate for repatriating overseas cash that was introduced in the bill that Congress and Senate just passed? How about $39 billion?
Yep, that’s the amount that the government will get richer with if Apple brings home most of its $252 cash hoard stuffed in tax heavens. In fact, Apple seems to have already set aside $36 billion for exactly that purpose, so it could intend to repatriate its holdings once and for all, and stop being scrutinized for using an offshore paradise or two …

Facebook won't launch its news subscription service on iOS due to Apple's 30 percent tax

It appears that Facebook and Apple couldn’t agree on terms regarding the launch of the latter’s news subscription tool, a new report claims. As such Facebook’s news subscription service will only be available on Android phones, not iPhones.

The main issue (the only one?) is the standard 30 percent tax that Apple takes from any subscription revenue. On the other hand, Facebook wants to give all the money from the news subscription service to publishers.

While discussions are still underway, the negotiation is at an impasse, so Facebook has decided to go ahead …

Pricing for the iPhone, iPad cut by Apple in India following tax reform

Apple, which has been looking to replace slumping iPhone and iPad sales in China by picking up the pace in India, has cut the prices of its devices in the latter country. The price adjustments coincide with sales-related tax reform for Indians. Prices of iPhone models are now 4% to 7.5% lower following the implementation on July 1st of the Goods and Services Tax (GST). This single tax replaces different taxes imposed by both central and state governments.

With the new pricing, the Apple iPhone SE, which is manufactured locally in the country, has been cut from Rs 27,200 to Rs 26,000. Converting …