The Apple's Conglomerate Tax
In a piece on conglomerate tax, I wrote, "Please note that Conglomerate Tax is a global thing. U.S. government may waive taxes for GE but will not listen to Facebook because GE is a conglomerate." Yes, companies like Dangote Group do tax Nigeria before it can do many things it wants to do. That tax comes via favorable forex and import waivers.
Apple sends its list to U.S. government for items it wants to be excluded from the Chinese tariff. That is the same company that has asked for exemptions from iPhone and other products
Apple is asking the Trump administration to exclude parts of its new Mac Pro from import tariffs after Apple reportedly said it is planning to move some production of the machines to China.
In filings made public this week, Apple asked the U.S. trade representative's office to exclude components of Apple's new Mac Pro from the list of products that could be hit by tariffs of 25 percent.
It should not be hard to understand: Americans like their iPhones and making it seem high may not even work well for politicians especially when Apple can make the case that iPhone is costing extra 25% because of government imposed tariff on parts. You need special influence to even propose that to a government. Apple does that because of its positioning in America.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.