Apple owes the EU $14B in taxes (1 Viewer)

Saint_Ward

Don't be a Jerk.
Staff member
Administrator
Gold VIP Contributor
Joined
Mar 1, 2007
Messages
46,704
Reaction score
40,362
Location
Fort Lauderdale, FL
Offline
https://finance.yahoo.com/news/14bn-tax-bill-means-apples-000000031.html

“The European Commission has concluded that Ireland granted undue tax benefits of up to €13 billion [~$14 billion] to Apple,” European Commission leaders said in a press release. “This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid.”
European Commission - PRESS RELEASES - Press release - State aid: Ireland gave illegal tax benefits to Apple worth up to

This is a the press release, which is a lot more detailed.
 

tomwaits

Frontier Psychiatrist
Joined
Aug 1, 2002
Messages
15,983
Reaction score
5,686
Age
45
Location
Pflugerville, TX
Offline
I hope Ireland sticks it to them good. I have no problem with companies using loopholes, but I love it when they move their corporation overseas in order to skip on paying their equal share in taxes, and they get boned for it.
I think the article is saying that Ireland and Apple were in agreement together for Apple to do business in Ireland for tax break purposes, and according to EU rules, their member countries can't do that because its not fair to the other member countries.

So to me, it sounds like they want all of their member countries to keep corporate taxes high so corps can't shop around for a country that will give it a lower rate.
 

tomwaits

Frontier Psychiatrist
Joined
Aug 1, 2002
Messages
15,983
Reaction score
5,686
Age
45
Location
Pflugerville, TX
Offline
I hope Ireland sticks it to them good. I have no problem with companies using loopholes, but I love it when they move their corporation overseas in order to skip on paying their equal share in taxes, and they get boned for it.
Actually, I saw an article the other day (will try to find it) that the EU may try to get some of the tax money from the US saying that the US ended up getting tax money that should have stayed in the EU. US balked at this of course.

In that case its the opposite of what you are saying.
 

LOONEY

gulf war vet
Joined
Aug 3, 2011
Messages
4,854
Reaction score
3,479
Age
52
Location
NorthShore
Offline
I think the article is saying that Ireland and Apple were in agreement together for Apple to do business in Ireland for tax break purposes, and according to EU rules, their member countries can't do that because its not fair to the other member countries.

So to me, it sounds like they want all of their member countries to keep corporate taxes high so corps can't shop around for a country that will give it a lower rate.
Well since the Uk voted to leave the EU can the EU enforce this ? or is Ireland still part of the EU? or is there a certain time frame that this can be enforced?
 

diehard

All-Pro
Joined
Jan 25, 2000
Messages
1,158
Reaction score
239
Location
SW La
Offline
The people running these tech companies and playing this shell game don't get the backlash they should, IMO.

People are hammering Mylan and Big Oil for greed while these techies are unapologetically slimy.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Users Who Are Viewing This Thread (Users: 0, Guests: 1)



Headlines

Top Bottom