After all, who does not want easy big bucks?
A cash chest of US$210+ billion is bound to invite more than just eyeballs. It can have thieves lurking, for sure.
Analysts with a complete focus on manipulation of markets will work extra hard to deceive unwary investors so they can profit from any stock turmoil they trigger. If they cannot go anywhere near the reserves, they can at least bring down the company’s market valuations.
Even governments or regional groupings comprising member States that are perennially in a financial mess can devise ways to try to dip into the chest through devious ways for some easy big bucks.
This I guess is precisely what has sparked the European Union’s 14.5-billion settlement claim from Apple for allegedly dodging European taxes during the last 25 years through sweetheart deals with Ireland.
Brexit was Good, after all!
The 25-year tax ducking charge makes the entire EU claim laughable. Ireland itself is contesting the EU claim. This is just another instance that can justify Brexit!
The EU order has left the U.S. wondering if it would hit American taxpayers.
But Apple CEO Tim Cook dismissed the EU move as “total political crap motivated by anti-US bias.” His strategy to deal with the issue is to work with the Government of Ireland to try and have the order overturned.
This is a huge distraction for Apple and is bound to involve hefty legal costs which will eventually impact the consumer, with iPhone 7 just days away from hitting the markets.
It is not uncommon for companies to park their revenues in tax havens. If countries continue to enforce a wildly unreasonable tax regimen on companies, it is quite in order for the latter to resort to ways that will protect their hard-earned cash.
G Joslin Vethakumar