Sunday, 27 December 2015
approx $2.1trillion stashed away in tax havens by the biggest brands
According to a recent study on the use of tax havens in 2014, the 500 largest American companies hold more than $2.1 trillion in accumulated profits overseas to avoid U.S. taxes
Among the total of $2.1 trillion, of the entire amount siphoned to countries which are tax haves,around 25% of that amount (549.7 billion) is hoarded abroad by ten tech companies alone.Among them Apple remains the undisputed number 1 brand in terms of hoarding cash, parking a whopping $181 billion overseas. That is almost twice as much as second-ranked Microsoft ($108.3b) and roughly three times the total of IBM, has parked the largest amount of cash outside the United States.
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TOP 10 TECHNOLOGY COMPANIES WHICH HAS STASHED THEIR MONEY IN TAX HAVENS |
tax paid by the top 5 tech giants
How much do the top tech giants pays as tax ? This question has been asked across the political spectrum as well as across business meetings. Time and again both legislators and senators have questioned Large tech companies such as Apple and Google who are often accused of avoiding U.S. taxes by stashing foreign earnings in countries with lower corporate tax rates.This chart tries to dig through the reality
Taxes paid by the technology giants it definitely not in line with the kind of profits these companues make.In 2014, Apple paid $13.97 billion in income taxes, which is more than what IBM, Microsoft and Google paid combined. More importantly though, Apple’s effective tax rate (the average rate at which pre-tax profits are taxed) in 2014 was 26.1%. While that is actually higher than it is for many of its fellow tech companies, it is 2.5 percentage points below the average tax rate paid by S&P 100 companies in 2014, not to mention the statutory federal income tax rate of 35%.
Taxes paid by the technology giants it definitely not in line with the kind of profits these companues make.In 2014, Apple paid $13.97 billion in income taxes, which is more than what IBM, Microsoft and Google paid combined. More importantly though, Apple’s effective tax rate (the average rate at which pre-tax profits are taxed) in 2014 was 26.1%. While that is actually higher than it is for many of its fellow tech companies, it is 2.5 percentage points below the average tax rate paid by S&P 100 companies in 2014, not to mention the statutory federal income tax rate of 35%.
Monday, 14 December 2015
india and china to account for 40% tech graduates by 2020 , US & EU to face severe tech manpower shortage
Latest data from OECD studies the state of technology manpower looking at higher education engineering graduates between the ages of 25 and 34 across OECD and G20 member countries – 42 countries in total.The report shows that skilled manpower across the technology sector has been shrinking rapidly from EU and the United states
India and China have reduced the share of tertiary graduates from Europe, Japan and the United States in the global talent pool.
India and China have reduced the share of tertiary graduates from Europe, Japan and the United States in the global talent pool.
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Engineering Graduates break up by country : 2010 |
- China will produce 29% of all higher education graduates aged 25-34 (up from 18% in 2010); India, will account for 12% technology graduates by 2020
- The number of engineering graduates in US will account for just 11%, by 2020( (down from 14% in 2010);)
- EU and United States combined will account for just 25% technology graduates
- UK’s share should increase from 3% in 2010 to 4% in 2020;
- By 2020, 6% of young engineering graduates will be from Indonesia
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