Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
EPS |
apple ceo focus on growing EPS EPS = (revenue - expenses)/shares outstanding apple shares were down, costs already optimized, decrease shares outstanding |
|
|
Tax avoidance |
structuring financial affairs to reduce tax while abiding with the law -ex canadian tax free savings account |
|
|
Tax evasion |
not paying or under paying taxes, this is illegal |
|
|
Why ireland? |
Ireland has a 12.5 tax rate compared to the US it was used as a global business platform so profits generated there can reduce tax apple created a separate corporation - apple ireland inc |
|
|
Transfer pricing |
-setting price of goods between business entities within enterprise -apple used to shift profits out of high tax juris |
|
|
Tax inversion / corporate inversion |
relocating company's country of residence to a lower tax jurisdiction -BK and Tims move to Canada, resulting in stock exchange -canada has exempt tax surplus |
|
|
Double Irish With Dutch sandwich |
-create irish and dutch subsidary to shift profits to low tax jurisdiction - send profits to irish sub, then to dutch sub, then to 2nd irish sub in tax haven -ireland has since shut down this loophole |
|
|
Whos to blame? |
Apple - too focused on EPS, unethical EU - inherently crappy systematic problem US - tax rate too high Ireland - trying to pursue jobs too agressively, unethical |
|
|
takeaway? |
perspective on ethical behavior changes over time -for tax, maybe we should have a global normative standard |
