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

Saint_Ward

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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.
 

El Caliente

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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.
 

tomwaits

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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

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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

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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

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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?

Ireland isn't part of the UK.
 

diehard

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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.
 

BHM

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TheDeparted

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I'm pretty sure Apple could find this in their couch cushions
 

tomwaits

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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.

Taxation is theft.
 

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