Australia's Financial Review has done an investigative feature on Apple's overseas tax operations in Ireland, including getting its hands on a decade's worth of filings from Apple Sales International. Interactives show how Apple shifted money out of Australia to Ireland.
"What is truly surprising in the Apple case is its brazenness," high-profile US tax commentator Lee Sheppard told the Financial Review from Los Angeles.
"We're not easily shocked by transfer pricing practices that the US government accepts, for better or worse," she wrote last year in Tax Notes International.
"We're talking gross worldwide revenues the size of the California state budget, and no tax being paid anywhere on a huge chunk of profits."
Other news from Wednesday afternoon includes:
- According to Ad Age, Apple has plans to bring full-screen video iAds to iOS, with a scheduled debut for later this year.
- Zite has been sold to Flipboard, which hopes to utilize the newsreader's technology into its own app.
- An update to Gmail's iOS app brings background app refresh, which requires iOS 7 and the feature to be turned on. The Gmail app also can handle one sign-in for all of its iOS apps.
- Bacon, bacon, bacon! Oscar Mayer's alarm app will bring the sound of sizzling bacon to your bedside, and an accessory will enable the scent of sizzling pork to accompany it. The only way to win it is through a contest on Oscar Meyer's site.
- On Tim Cook's calendar today includes a meeting with Israel's prime minister.
- Want to see the latest aerial photos from Apple's campus construction in Cupertino? Check out these amazing photos from Apple Toolbox.
And kick back with these features: