Thursday, 16 April 2015

Senate corporate tax enquiry in full - Apple, Google, Microsoft grilled

*faints*

I finally found a YouTube video with the lot. I never saw it the other day, don't watch that ghastly television anymore, just what we download of interest to us. But yes I have found the whole thing online, apparently riveting TV. Watch for a whole one and a half hours whilst Apple, Google, and Microsoft are grilled by the senate about their tax avoidance in Australia. 

Update:

About a third of the way through. So far I've learned from the corporations that me as a pensioner has to cop their non payment of tax to fund my pension, because corporate competition.

That these tech companies are doing a marvelous job technically so they shouldn't pay tax like the rest of us :s

That because Apple is a "distribution company" they don't need to pay tax like we do (in my case did). 

About here the rest of this is about the last half:

That because they're a US based company they don't need to pay tax like the rest of us.

That they turn up to a senate inquiry without details of their tax arrangements and say they're not "tax experts". FFS the senators apparently know more about their tax arrangements than them.

That Christine Milne of the Greens knows her shit. 

That the revenue from Australia is taxed in Singapore, which has lower taxes. 

Evidently Microsoft Australia, Singapore, and Ireland are "not related"

Apple Australia is owned by Apple Ireland.

The Google lady doesn't know about Bermuda. 

The Apple guy reckons everything is "very transparent"

I learned I dunno WTF they mean by "arms length". 

The Google lady needs the OECD to help her company pay the correct tax.

The US Microsoft guy looks stunned at the intelligence of the Australian senate, like a dear caught in headlights. 

Google books all revenue through Singapore and doesn't report it to the Australian Taxation Office. 

Because Australian multi-nationals are doing it too makes it all OK. 

You go into a local store and buy Microsoft office, all the money goes to Singapore.

They have to pay wages for distribution (oh the humanity!). 

Their products are complex bla. Sounds like Big Pharma to me.

It happens throughout the OECD so it's OK. 

In  summary, they bloody hung themselves out to dry baby :)

 

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