On Tuesday, Apple is preparing the second quarter financial results. Analysts expect Apple will earn net income of $ 9.8 million (approximately USD 92.98 billion). However, later reports results would not reflect reality, because Apple actually conceal profits with a tax maneuver.
Apple Inc.. is the most valuable companies in the world, among other multinationals. However, financial statements do not include the neglected asset that is worth billions of dollars that may never paid tax.
Tax experts say, companies can easily eliminate these false tax obligations. It can increase Apple’s profits for the last three years with a value of $ 10.5 billion (about USD 99.62 billion) based on calculations by The Associated Press.
At the moment investors will rejoice profits, which are not directly remove a large tax liability, such action could damage the reputation of the U.S. taxpayer.
As with other companies, Apple typically maintain profits on sales abroad. When someone buys the iPad in Paris or Sydney, for example, the profits obtained from the sale will remain outside the United States.
Maybe Apple pay income tax to the country where the iPad is sold, but Apple uses a variety of accounting calculations by moving profits to countries with lower tax rules. As example, a strategy known as the “Double Irish With a Dutch Sandwich”, which brought the company profits through Ireland and the Netherlands and then to the Caribbean.
When using the technique of creative tax, Apple is no different from other multinationals, said Robert Willens, an independent accounting experts.
In the case of Apple, offshore accounts has grown by a staggering $ 74 billion (about USD 700 billion), which is equivalent to the market value of Citigroup Inc.
Apple has the obligation to pay taxes by $ 6 billion (around Rp 57 trillion) at the end of September. According to reports profit in the last three quarters, the amount of money that must be paid for taxes estimated at about $ 10.5 billion (around Rp 100 trillion).
“Apple has been doing business with the ethical standards, in accordance with the law and applicable accounting rules,” said Apple in a statement.
The obligation to pay taxes Apple began three years ago, when iPhone sales began to increase dramatically. At that time they reported total net revenues of $ 69 billion (around Rp 654.67 trillion).
If Apple is applying the appropriate standards and include foreign income into earnings in the U.S., it will get the $ 78 billion (around Rp740 billion) or 13 percent higher.