Mark Zuckerberg, founder and CEO of Facebook, will sell shares in the company valued at $2.3 billion to pay the taxes. It's just part of the offer of 70 million shares of Facebook, which will go on sale.
Apple is not having a good run of luck lately. They are sagging behind their rival and manufacturing partner Samsung by almost 2 to 1 in terms of unit sales which is hurting consumer confidence in their phone and tablet products. Apple is also probably going to lose their suit with the Department of Justice over eBook Price fixing which will impact the pile of cash they have an investor confidence. To further add insult to injury they are under investigation for their tax policies in the US an overseas. The Apple mythology is crumbling faster and faster while others jump in to pick up the pieces. Apple may even be delaying the launch of new products which is not doing them helping their situation considering Samsung and others have much faster refresh times than Apple can maintain.
Earlier today we published an article showing how Apple is trying to get out of the price-fixing jam they are in with the US DoJ. Their new tactic is to try and show that they did nothing wrong or that the publishers that they dealt with had not already intended to do. Looking over the evidence and Apple’s pattern in dealing with partners actually looks more like Apple was behind things and used their knowledge of the situation to bring the others onboard. Now we are finding out that the DoI feels this way too and that they also have some evidence to back it up in the form of testimony from the 5 publishers in the original suit.
It seems that these days everyone is involved in trade or mining of the Bitcoin, and it did not go unnoticed at the Canadian tax authorities (CRA/ARC - Canada
Revenue Agency/Agence du Revenu du Canada) who have decided to start charging sales tax on the transactions with this currency. According to the CBC's website, the tax will be applied based on a two separate rules depending on whether Bitcoin is used as real money to buy things, or whether it is only used for speculative investment.
Danish authorities have launched an investigation against Microsoft in connection with their takeover of Navision in 2002. To be more precise they are worried about Microsoft not paying appropriate taxes on their profit subsidiary which currently operates under the name of Microsoft Dynamics NAV.
Correction 8-09-2012 Google has contacted us wityh ammedned figures on their earnings. We have adjusted the article to reflect the correct numbers.
Last year Google's UK subsidiary made a pofit of £3.95bn ($6.182 Billion USD) £395 Million for which they have to pay only £6m ($9.4 Million USD) in taxes. If you recalculate that to a tax rate it works out to only around 0.15%, or £1.519 1.5% or £15.19 for every million pounds in turnover (about $23 USD). It is certain that this tally will fire up critisism over how much the search giant contributes to the UK's coffers. According to figures in The Telegraph, in the six years up to 2010 Google handed over only £8m in total. However, the 2011 payment is a jump in corporate tax for the company which might have been triggered by the ongoing monetary crysis. Last year Google had to pay £935,000, against £2.39bn £239m of revenue.