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TECHNOLOGY GIANT APPLE has been accused of using Ireland as a tax haven by a US Senate Subcommittee.
The multinational firm behind the iPhone and the iPad has reportedly avoided paying $44 (€34) billion in US taxes over the past four years by operating off-shore companies based in Hollyhill Industrial Estate in County Cork.
This is the second time in less than two weeks that Ireland has become in embroiled in an international tax avoidance controversy. The UK parliament’s Public Accounts Committee accused internet search engine Google of “devious” use of Ireland’s corporate tax regulations to reduce its tax bill in Britain.
According to the Senate investigation, led by Democrat Carl Levin and Republic John McCain, Apple negotiated a special two per cent tax rate in Ireland – far less than the State’s 12.5 per cent rate for companies.
Apple, who employ 4,000 people in Ireland, has been asked to explain in the US how two Irish subsidiaries - Apple Operations International (AOI) and Apple Sales International (ASO) – pay little or no tax on profits in either country.
AOI has not filed tax returns in any country over the past five years despite income of around $30 (€23) billion between 2009 and 2012, according to the Senate’s investigation.
The company was set up here in the 1980s but is owned and controlled in the US by parent company Apple Inc.
ASI paid just $10 (€7.7) million in taxes on $22 (€17) billion profits in 2011 following a special tax deal agreed with the Irish Revenue Commissioner back in the early nineties.
“Apple sought the Holy Grail of tax avoidance,” Levin told the committee. “It has created offshore entities holding tens of billions of dollars, while claiming to be tax resident nowhere.”
Former US presidential candidate, McCain, said: “A company that found remarkable success by harnessing American ingenuity and the opportunities afforded by the US economy should not be shifting its profits overseas to avoid the payment of US tax, purposefully depriving the American people of revenue.”
Apple is not accused of doing anything illegal and the firm released a statement denying it used “tax gimmicks” to lower its bill. It also claimed to be the highest payer of corporation tax in the US.
However, Business Insider’s Henry Blodgot said the firm uses “highly sophisticated tax dodging” techniques, including:
Additional reporting by Business Insider.
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The Fr Ted episode with the Car Draw springs to mind reading this !!!
Number 11!! Sorry ted I was reading it upside down
There’ll be more credit union car draw fixes coming out,Rush c.u is the start of the snowball.
@Gordon Hughes: ironically that episode is actually filmed in rush!
Now there’s a surprise only 15 cars !!!! anybody who paid into the “alleged” car raffles got their money refunded and got their savings back in a form of a cheque. i feel sorry for the honest staff who worked there…..they are now out of a job because of 3 greedy individuals who are well known in the area.
@Marie Gunbay: There were honest staff????
@Get Lost Eircodes:
There were/are plenty of good honest people working there. While I didnt bank there or do any business there I met a few staff who are so upset. The staff were very good helping elderly people do their business. Few bad apples it appears.
@Marie Gumbay. You know for a fact there were 3? People are using names locally which is a little unfair until such time as someone is charged. We know how stories begin and grow….. By the way if someone is found guilty they should be………….
The bigger issue here is the Credit union had accountants and annual audits from ILCU, Central bank and nobody saw what was happening!! it beggers belief.
@Leo Bissett:
Nail on the head regarding their “audited” annual accounts. Hard to fathom how a professional firm of accountants could have missed these financial irregularities. Time for an independent regulator in the world of Irish accountancy methinks.
@Get Lost Eircodes: Yes there were staff who were not involved in the scam….it was further up the chain of command.
@Leo Bissett: Leo I never mentioned any names I heard it from somebody I know who actually worked there….and I was also a member. Perhaps other people are under suspicion. Hopefully the culpits will be charged soon. I heard a member of the family in the pub saying the family name was ruined because of these two particular individuals and another.
@Marie Gunbay: culprits
Well said Leo!
@Marie Gunbay: Maria I have heard names also but you will know from around the place lots of names have been mentioned which until something is proven or someone charged is a little unfair. The stress some good honest workers have been put under is frightening.
@Frank Cauldhame: indeed Frank…this was missed by the Central bank and the League of Credit Unions as well as Rush own teams of accountants…Are we really to believe the Central Bank has us covered if Anglo 2 comes down the tracks???
It’s probably an administrative error.
I once bought two kerrygolds when i was up in SuperValu and wasn’t really concentrating. How we laughed when I came home.
Journal.ie requests that it be known that other brands of butter are available. Comments may be closed depending on favourite butter brand of editor.
Surely the cars are easy to trace. The Nearys garage would have records of registration plates etc. All traceable. I am curious to find out how many golf course pals are owning them. Or did they quickly sell them on once the proverbial hit the fan?
Agree, the dealer should be able to provide all the details of the cars handed over (bought and paid for). Unless they were phantom sales and thwre was collusion with the dealer.
@Monika Fehlauer: Probably sold them on to pay for the overseas properties, deeds for which were found in the safe and nobody claimed them.
@Conrad Shields: My mother won a car at her local CU afew weeks ago – not Rush. Due to issues regarding registration, the CU does not buy the cars, but presents the winners with a voucher and the winner then deals directly with the dealership. It is hearsay that some dealerships will ‘buy’ the car back immediately from the winner which means that in effect, there was never an exchange of car. However, the CU should display the names of the winners and have a record of the vouchers issued. I know my mother’s name and photo are prominently displayed.
Hi Anne Marie Don’t doubt that other CU’s have held legitimate draws and like you say, your mother’s picture was prominently displayed. Just soinds loke something fishy has been going on here. Not able to identify 1 winner is careless, but 15?
Why don’t they just look for the friend or relative to Nearys in Lusk?
The Credit Union probably just forgot to pick them up.
@Cian Martin:
Nearys didn’t necessarily do anything wrong. An accounting entry doesnt mean that any monies were ever paid to Nearys, it may just have been a way to cover the disseverance of over 200k. Even if cars were bought from Nearys it was not their responsibility to chase down who the eventual winners would be. Its not nice to infer dishonest work practices on a business without knowing the fact and it is also very dangerous and potentially putting people’s jobs and reputation at risk. Please think before posting!
@Nick Allen:
*disappearance of over 200k
Someone is rush is at home now going
“Oh Bo**ox”
Yes and I’m a neighbour of two credit union employees that both miraculously won cars in draws a few years ago. One woman won a BMW and the second woman won a Nissan Primera from credit unions despite being employees. Absolute truth as they are neighbours for years.
What colour curtains do they have? And what sort of carpet?
Their curtains don’t match the carpets I’ve heard, sorry.
Still looking for ticket number 11.
@Ciaran Dunne: Sorry Ted. I was holding it upside down.
@Gordon Hughes: Ironically that episode of Fr Ted was filmed here in Rush
I’m going back 5 or 6 years ago when both women in our local credit union and both living on the same road, won new cars in these infamous draws. It was quite a shock to our small road and cul de sac that both these women won cars after being employed for years. What can anyone do?
Normally employees of a company running a similar draw are prohibited from entering, to include directors or suppliers BTW
@BHJFT96:
Not sure this is true. Some companies will not allow employees enter certain draws. My club raffle a car and we need every member to support the draw by buying tickets and selling and promoting the sale of tickets.
All over Ireland every week local people win prizes in various club draws.
Yes that’s why I’m making the comment. One woman was employed since I was a young kid on her road and the other was a more recent employee. Still they both won new cars from credit union. Many people can confirm this.
You should report it to the Irish league of credit unions of its not Rush.
“cars”
As Neary’s motors are Subaru dealers, no new Subaru costs 14,500, they start at 25k. So, what car did Neary Motors supply the Rush Credit union ?
They sell all makes of cars not just Subaru.
@Diarmuid Lucey:
Usually a ford fiesta which today is around €16,500. Any decent car dealer will get you whatever make of car you want. A ford dealer will get you a B.M.W or a Renault dealer will get you a Citroen.
@Diarmuid Lucey:
Reading it again I feel it is a little unfair on Nearys to be even linked with this draw. They supplied the cars but didnt run the draw.
They had a dual dealership, citreon/subaru. Now they sell near new models regardless of brand. The cars were C3′s and Justy’s (like a subaru Yaris/Aygo style car, not terribly popular) and that works out about right price wise. Plus keep in mind where tbe accounts are coming from. It’s like to be fabricated or inflated on the books.
Don’t Rush to judgement
@Wayne Scales: Ah give them some Credit will ye
It could have gone on for Infiniti.
Suspended sentence….
Surely Garage can provide VIN numbers if vehicles were actually supplied???
You won’t get much of a car for 14,500 these days. Something dodgy going on there too.
@Point Blank:
They most likely got the cars at cost price which is not unusual. I was aware the talk was of 1 car draw allegedly been rigged.
A lot of clubs and charities run car draws some of which are heavily sponsored or subsidised. IIRC the car was usually a ford fiesta or similar.
I have bought a lot of cars from Nearys and they are a very good company to deal with. They are also very good at sponsoring local clubs and charities. They supplied cars which I dont think is a crime? They are entitled to be paid for them also.
So can a member of any club buy a ticket for a raffle of a club they are members of? What if their 3rd cousin twice removed pulled the ticket?
@ Leo… I never implied that Neary’s garage were at any fault whatsoever. The whole thing reeks to the high heavens if you ask me. You’re surprisingly staunch in your defence though. Friends, relations maybe?
@Point Blank: Was not getting at you POINT BLANK meant to answer more re the cost of a car. Garages will do a deal with a club or organisation if they try to raffle a car by giving it at cost price.
Ah I would have known the owner from school and played football against him so Friends for a very long time but not boozing buddies if you get me. Just found them always decent enough to deal with.
Just think unless they are “involved” in any way their name should not have been mentioned. You know the way sh*t sticks……
I know Leo. Like I said… no insinuation whatsoever intended. There was something rotten going on but all evidence points to the credit union management. Or mismanagement in this case.
@Point Blank: Definitely mismanagement. Rotten.
I work locally and have done for 38 years so I know the people involved. I hear a lot of bull around the place from people on this. A very big danger here someone very innocent will be named and god knows what someone could do with this hanging over them, in the wrong. It is easy for me or anyone to say if they have nothing to hide they have nothing to fear but there will always be people damaged in these situations. I just hope and pray it is the right ones.
Like a lot of others I want this to end as soon as possible. Deal with the culprits and let the good people move on
I wonder if my Credit Union is still there. Must check tomorrow.
Must’ve been Opel Zafiras.
Regarding cars won in draws.
It is quite likely in my opinion that a cash alternative was offered instead of a car.
The garage therefore would not be able to provide details of VIN/Registration numbers for cars that were never supplier in the first place.
It’s absolutely shameful that people are allowed comment on the actions of a third party business who in all likelihood are guilty of no misdemeanors.
I don’t know the guys in Nearys and have never been in Rush in my life.
But it is well within the realms of possibility that some of the good people of Rush would rather a substantial cash injection instead of a shiny car sitting in the driveway of their rented accommodation or their mortgage saddled home.
No doubt there is some nefarious activity going on in relation to this draw but to drag in the garage to this sordid mess is damaging at best and quite defamatory in the extreme.
But the Journal will condone nearly all comments if it feeds the scandal mill.
Second that, cash alternative was offered. Although less than the value of the car. So harder to trace. I am shocked to see Neary’s name published. I’ve bought a few bits and pieces there. Great lads. Media shouldn’t drag people/companies in like this. Very irresponsible journalism.
same ol story , where was the regulation/regulator !!!!!!!!!!????, …who is going to foot the bill as they say ,,, same as in quinn insr , we end up with levy on our policies BECAUSE someone didnt do what they were getting PAID to do and are probably STILL getting paid to do ,,, or paid( ‘generous’) pension , great lil country ,,,,,for some that is
@Frank Manweiler: Agreed Frank.
This was highlighted over 6 years ago. How was this let go on so long. Someone didnt do their job.
This is surely a case for the highest office in the land to deal with, wherever that is. We have as you said stumped up for Quinn, bailed out the banks and I believe more credit unions will follow.
Dont know if it will ever happen but the credit unions need to go back to small loans that gave people a chance to modestly improve their standards of living with small loans. It is a fantastic organisation but went very like the banks.
@Leo Bissett…Well said Leo and bang on about ILCU and External Auditors. These bodies continually avoid sanction as one scandal after another emerges. Worse still the ILCU probably stumped up funds from the Protection fund to help the poor ailing credit union after their go*s*ite field officers missed all of the issues
This could have been a legit Pyramid Scheme and these guys got in first…anyone else win Toasters or hair dryers on the road by any chance?
Like a lush to a rusk!!!
I am sure Neary’s are completely innocent in all of this and can immediately supply a list of the 15 people for whom they processed the car registration. Because they’re not implicated in any way. At all. If they can provide this information.
@Steve B: As was mentioned above people may have taken a cash alternative. I would not be happy if I were running a business to have my dealing made public. I would not be divulging any information unless it was in strictest confidence. Most certainly not for someone to publish.
People are so wound up with their theories on “who dunnit” we still miss a really important point.. Where were the Central bank auditors, revenue, accountants………………
How come comments on this case are open, with legal proceedings quite likely, but commenting on a case outside this jurisdiction, a case involving Sharia police, is not allowed because legal proceedings are ongoing?
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