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Apple evades 70 mln USD in taxes in China: official report

English.news.cn 2015-09-10 16:36:07

Apple Senior Vice President of Worldwide Marketing Phil Schiller introduces the new iPhone 6s and iPhone 6s Plus during an event in San Francisco, the United States, on Sept. 9, 2015.

Apple Senior Vice President of Worldwide Marketing Phil Schiller introduces the new iPhone 6s during an apple event in San Francisco, the United States, on Sept. 9, 2015. (Xinhua)

BEIJING, Sept. 10 (Xinhua) -- Apple Inc.'s computer subsidiary in China failed to pay 452 million yuan (more than 70 million U.S. dollars ) in due taxes by the end of 2013, an official accounting inspection report showed on Wednesday.

Apple Computer Trading (Shanghai) Co. Ltd. included maintenance costs into pre-tax deductions, wracking up the giant deficit, the Ministry of Finance (MOF) said in the report. But the company has paid back the taxes and 65 million yuan in late fees.

The firm also under-reported 8.8 billion yuan of revenue and 3.45 billion of costs and overstated 5.35 billion yuan of profit, the report showed.

The problem was disclosed along with violations of rules in other state-owned, private and foreign companies after the MOF inspected on accounting information for tens of thousands of firms across the country.

The MOF said it has given penalties to related enterprises and accounting firms and asked them to rectify their irregularities.

Related:

Apple to finance iPhone sales without requirement on particular carrier

BEIJING, Sept. 11 (Xinhuanet) -- Apple Inc. announced lately it will for the first time finance iPhone sales directly to customers without requiring them to be tied to any particular carrier.

This decision is considered to accelerate price competition and step up margin pressure at the American wireless carriers. Full story

Apple updates product lineup

SAN FRANCISCO, Sept. 9 (Xinhua) -- Apple Inc. updated its product lineup Wednesday, focusing on its tablet computer with a larger screen and its online video box with a remote control capable of taking voice command.

The new tablet, known as iPad Pro, features a 12.9-inch display that is larger than those with previous iPads and a more powerful central processing unit (CPU) chip that is likely to deliver performances expected by corporate and professional customers. Full story

iFake: Chinese company busted for mass-producing fake Apple iPhones

BEIJING, July 25 (Xinhua) -- Chinese police have cracked down a Beijing-based company which allegedly made more than 40,000 fake iPhones worth about 120 million yuan (19.6 million U.S. dollars) this year, they announced Saturday.

Beijing police said they arrested nine suspects and found six assembly lines and more than one million cell phone parts in the company's factory. Full story

[Editor: Tian Shaohui]
 
Apple evades 70 mln USD in taxes in China: official report
                 English.news.cn | 2015-09-10 16:36:07 | Editor: Tian Shaohui

Apple Senior Vice President of Worldwide Marketing Phil Schiller introduces the new iPhone 6s and iPhone 6s Plus during an event in San Francisco, the United States, on Sept. 9, 2015.

Apple Senior Vice President of Worldwide Marketing Phil Schiller introduces the new iPhone 6s during an apple event in San Francisco, the United States, on Sept. 9, 2015. (Xinhua)

BEIJING, Sept. 10 (Xinhua) -- Apple Inc.'s computer subsidiary in China failed to pay 452 million yuan (more than 70 million U.S. dollars ) in due taxes by the end of 2013, an official accounting inspection report showed on Wednesday.

Apple Computer Trading (Shanghai) Co. Ltd. included maintenance costs into pre-tax deductions, wracking up the giant deficit, the Ministry of Finance (MOF) said in the report. But the company has paid back the taxes and 65 million yuan in late fees.

The firm also under-reported 8.8 billion yuan of revenue and 3.45 billion of costs and overstated 5.35 billion yuan of profit, the report showed.

The problem was disclosed along with violations of rules in other state-owned, private and foreign companies after the MOF inspected on accounting information for tens of thousands of firms across the country.

The MOF said it has given penalties to related enterprises and accounting firms and asked them to rectify their irregularities.

Related:

Apple to finance iPhone sales without requirement on particular carrier

BEIJING, Sept. 11 (Xinhuanet) -- Apple Inc. announced lately it will for the first time finance iPhone sales directly to customers without requiring them to be tied to any particular carrier.

This decision is considered to accelerate price competition and step up margin pressure at the American wireless carriers. Full story

Apple updates product lineup

SAN FRANCISCO, Sept. 9 (Xinhua) -- Apple Inc. updated its product lineup Wednesday, focusing on its tablet computer with a larger screen and its online video box with a remote control capable of taking voice command.

The new tablet, known as iPad Pro, features a 12.9-inch display that is larger than those with previous iPads and a more powerful central processing unit (CPU) chip that is likely to deliver performances expected by corporate and professional customers. Full story

iFake: Chinese company busted for mass-producing fake Apple iPhones

BEIJING, July 25 (Xinhua) -- Chinese police have cracked down a Beijing-based company which allegedly made more than 40,000 fake iPhones worth about 120 million yuan (19.6 million U.S. dollars) this year, they announced Saturday.

Beijing police said they arrested nine suspects and found six assembly lines and more than one million cell phone parts in the company's factory. Full story

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