Apple tax practices come under fire at Davos
What you need to know
- Apple's tax practices have come under fire at the Davos summit.
- Specifically, they were named by economist and Nobel Laureate Joseph Stiglitz.
- He said that companies that don't pay their fair share of taxes aren't corporately responsible.
Apple's tax practices have come under fire at global summit Davos from US economist Joseph Stiglitz.
As reported by 9to5 Mac, the Nobel laureate criticized Apple and questioned its corporate responsibility:
He is no doubt referring to Apple's criticized practice of running its EU operation through Ireland, where it pays very favorable rates. However, Apple has always maintained that it pays its fair share of taxes as required by law in all of the countries in which it operates.
Tim Cook is himself an advocate for global tax reform. Earlier this week he stated:
In 2016, the European Union argued that Apple's tax arrangement with Ireland was not fair, and ordered Ireland to recover $14.5 billion in taxes from Apple, a ruling that both parties are currently appealing.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9