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The Apple Effect

in Blog
I am probably going to be a little bit controversial in this post, as I am throwing my views re #AppleTax out there.
Firstly to be clear I have no connection with Apple (I generally don't even like their products).
By minimising their liability Apple did nothing wrong. ANYONE can apply to Revenue and ask for advice on minimising their liability. Less than 2% actually do. Every day while working with my clients I am looking at where savings can be made. I won't use the reckless ideas of some accountants (Your dog is a business expense because he can bark and is therefore an alarm system) but I will put as much effort into what people are not claiming for as looking at what they are.
I am in no doubt that this is an attempt by the EU to push Ireland's Corporation Tax rate up. Apple are just the first target. If Ireland accepts this ruling there will be investigations into other multinationals, whether guilty or not, and eventually we will be paralysed on the outside of Europe.
Don't fool yourself into thinking there is a pot of Gold if Apple pay this, as the EU have already written to other countries telling them they should be seeking their share of the payment from Ireland. (Note that it is Ireland that is being targeted not Apple for this reimbursement) The balance would then be demanded by Europe in penalties etc.
So as we approach the self assessment deadline talk to your tax professional and make sure you, like Apple, are getting the best advice possible. Devlin and Associates are always happy to help