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The BBC today headlined Apple’s UK price rises on computer sales.
“Apple suggests product prices internationally on the basis of several factors, including currency exchange rates, local import laws, business practices, taxes, and the cost of doing business,” the company told the BBC.
We all know that the UK currency has taken a bit of a dive. This means that when repatriating their profits home to the US, those profits will be worth a little less in dollar terms. So of course there will be less tax revenue for the US authorities to help reduce its multi-trillion dollar debt and a bit less to spend on social services and other such worthy things. so a price rise is surely good?
Except of course Apple do not repatriate all of such profits, or so ‘double-Irish’ talk on the internet has it. My understanding is that it is the physical act of profit repatriation that incurs the tax liability to the US government. So the profits will be off-shored somewhere to wait for another non-US investment opportunity. America will never see the money.
And don’t even get me started on Google.
I have an iPAD and an iPhone, they’re pretty cool devices. Each time I use them I relish my charity at helping some poor accountant sun themselves in the Bahamas.
It’s all very legal of course. you’ll have to decide for yourself whether or not it is moral.
In other exchange rate related news today, the price of Marmite has gone up by 12% or so in the UK. I’ll think of a tri-link to the yeasty stuff later and edit it in; it will probably be vitamin related and VERY interesting…don’t forget to check back 🙂