On the 7th April four Cardiff university students will protest outside of the Apple store in St. Davids centre, Cardiff. Following recent research that has considered the use of tax havens by transnational corporations, our aim is to raise awareness of the international atrocities that the global super giant, Apple, has recently displayed.
The research, undertaken as part of a dissertation project by Human Geography student Mr. Dominic Dahmen, discovered the astonishing amount of tax Apple had avoided by positioning its European headquarters in the Republic of Ireland. The European Commission (using data provided by the U.S Senate) contended that ASI (a subsidiary of Apple) recorded €16 billion in profits in 2011, but due to Irish tax law only €50 million qualified for taxation. Consequently, ASI only had to pay €10 million in tax, from its €16 billion worth of profits. Meaning Apple paid an effect tax rate of 0.05% in Ireland in 2011, this figure remarkably dropped even further to 0.005% in 2014.
Tax evasion has become accepted in the world of business due to a shift from Keynesian economics to Neoliberalist policies and therefore many transnational corporations believe it is their given right to do so. A perception that needs to be challenged in the future.
Experts in the field say there needs to be a creation of an international tax agency, that can enforce that transnational corporations and wealthy individuals pay tax to a government. Although this will come up against oppositions such as capitalism itself, it will in turn lower global inequalities on both the national and international scales.