Technology
Apple trying to cut Cupertino tax bill, says San Francisco Chronicle
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Apple is aggressively appealing tax assessors, public
officials who determine the value of property for tax reasons,
according to The San Francisco Chronicle. -
The company has 489 live appeals in Santa Clara County,
including one claiming that a cluster of properties around
Apple Park is worth just $200. -
Apple CEO Tim Cook has always said the firm pays its
taxes properly.
Concerns over Apple’s elaborate efforts to reduce its tax bill
are nothing new. The company — which hit a historic $1 trillion
valuation this month — was punished in 2016 for a tax deal in
Ireland, which the EU said amounted to illegal state aid.
But a newly discovered tactic has reignited the debate about the
company’s tax contributions. The San Francisco Chronicle
reported over the weekend that Apple is “aggressive in opposing
tax assessors,” public officials who determine the value of
property for tax reasons.
Apple may be the biggest taxpayer in Santa Clara County, where
its Cupertino headquarters is based, but the Chronicle said it
has 489 open tax appeals in the area, disputing $8.5 billion
($6.6 billion) in property value.
In a 2015 appeal, Apple claimed that a “cluster of properties”
around Apple Park was worth $200, rather than the $1 billion
figure alighted on by Santa Clara County’s tax assessor. In
another, Apple said a property, valued at $384 million by local
officials, was also worth $200, the Chronicle said.
“These are major cases, and publicly, they kind of go under the
radar screen,” said Santa Clara County Assessor Larry Stone. He
added that companies are prepared to spend millions of dollars on
lawyers to appeal tax rulings, “but there’s millions at stake.”
Business Insider has contacted Apple for comment. The company
declined to comment when approached by the Chronicle. Apple CEO
Tim Cook has always said the firm pays its taxes properly. “In
every country where we operate, Apple follows the law and we pay
all the taxes we owe,” Cook said in an open letter in 2016.
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