DodoFinance Breaking News Made For You!
In the first three months of this year, in the second quarter of its broken fiscal year, Apple achieved higher sales and profits than a year earlier. Other big tech companies are also seeing billions coming. Sales are also high in Europe, but are they paying taxes here too?
Profit and sales figures are staggering. Apple is at the forefront. The iPhone maker’s revenue rose 54 percent to $ 89.6 billion. Profit rose to $ 23.6 billion, up 110 percent from all expectations. In 90 days. 23.6 billion, which is 262 million a day. Also calculated: Net profit of US $ 3,035 (Euro 2503) per second.
The iPhone 12 is a hit, Mac sells crazy, such as airbots, iPods and watches, you can’t pull them around. The American company sells the most in the United States, but Europe ranks second. Nearly a third of the turnover is achieved here. Apple products are also popular in the Netherlands.
Tax
Emerging figures top an old question. Don’t big tech companies pay high taxes on the profits they make here? Apple is not the only American technology company to offer massive revenue growth this week. Google’s parent company Alphabet’s first-quarter revenue exploded from $ 6.8 billion in 2020 to $ 17.9 billion this year. Here too: one-third of turnover is generated in Europe. Facebook earned $ 9.5 billion in January, February and March, compared to $ 4.9 billion in the first quarter of 2020, mostly in Europe.
The European Commission has been trying to deal with companies like Apple for years. The electronics company conducts most of its European business through a branch in Ireland. According to the commission, a tax system has been set up there so that Apple pays almost no profit tax. The company received an additional 13 billion in redemption, which was to be paid to Ireland. But in court, the European Commission lost the case. There is one more appeal.
Patchwork
Led by the OECD (Economic Cooperation and Development Organization), international negotiations on tax agreements are underway. International companies have to pay profit tax in the country where the turnover takes place. This should prevent the patchwork of national rules from coming out. France, for example, already taxes its own Internet services. There are voices in the hack to counter the power of American technology companies and impose higher taxes on revenues generated in the Netherlands.
Currently, its main beneficiaries are shareholders of large US companies. Apple, for example, announced a $ 90 billion repurchase of its own shares. This is expected to further boost the company’s trend.
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