Wozniak, the co-founder of Apple started this 50% tax debate, when he said in an open statement that,”I don’t like the idea that Apple might be not paying taxes the same way I do as a person, I pay over 50 percent of anything I make in taxes, and I believe that’s part of life and you should do it.” Apple, the most innovative company on this planet, is loved all over the world for making extremely user-friendly gadgets be it phones, computers or music players. But since this is that matter of finances and paying taxes to the government, the company’s views and plans differ from its current leader to the one who started it.
According to Oxfam’s report, Apple is the biggest offender in tax evasion and it cannot be taken lightly. According to corporate tax slab in the U.S. it charges 35% to companies, but with evasion strategies, these companies pay less than 30% tax every year, thereby not paying their total fair share.
Yes, Steve Wozniak, when prompted Apple should pay 50% taxes like he does, Tim Cook quickly came with a reply. In his 60 minutes interview, Tim Cook called tax evasion rumours to be political crap and said the company paid everything to the government in the form of corporate taxes. The 50% tax debate is not settled yet, where Apple’s CEO, co-founder and NGO’s like Oxfam are trying to do the right thing for themselves. While Woz is being humanly correct, Tim is being corporately correct and Oxfam is being socially correct.
What are your thoughts on corporate tax evasions? How would you thing treasury department would handle this situation of $1.3 trillion being stashed in taxes by top American companies.