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Apple 'among largest tax avoiders in US'
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kidspud
18-02-2015
Originally Posted by alanwarwic:
“"Barack Obama has angered officials in Europe after suggesting that investigations by the European Union into companies like Google and Facebook were "commercially driven."
http://www.theverge.com/2015/2/17/80...d-the-internet

I guess he has to strike first to pre-empt any outrage over that new US corporate tax law, the one designed to repatriate to the US what really should be EU taxes.”

I don't suppose the EU will be worried about the 'new U.S. corporate tax tax' as it has no chance of being voted through congress.
alanwarwic
23-01-2016
Well, Google just reached a voluntary, maybe Starbucks like, agreement to pay £130m in extra tax.

That is £12 million for each year covered. We already have 'sweetheart deal', 'derisory' and 'trivial' words banded about for this.
With UK income in the many billions for Google, it is does look hard to see it as otherwise.

The difficulty here for politicians is that corporates appear to have the control over them. Small deals are putting a very difficult financial situation in the spotlight, not really solving anything.

http://www.taxresearch.org.uk/Blog/2...ness-disaster/

'This gives rise to the second concern. The UK is clearly endorsing tax competition with this deal. In the process it endorses the shift of tax from multinational companies to individuals and harms the cause of equality and fair commercial competition in the process.'

That has always been the reality. It would be really interesting to hear how much of the deficit is down to tax avoidance.
alanwarwic
30-06-2016
Following on from the French raid on Google offices, Spanish tax officials have now raided Google offices.
https://techcrunch.com/2016/06/30/go...x-authorities/
Everything Goes
30-08-2016
Today the EU will publish how much cash they want from Apple. Apple make approximately $18 Billion profit per quarter.

http://www.bbc.co.uk/news/business-37216176
Everything Goes
30-08-2016
Apple have been ordered to pay £11 Billion €13 Billion.

https://www.theguardian.com/business...land-state-aid
konebyvax
30-08-2016
Originally Posted by Everything Goes:
“Apple have been ordered to pay £11 Billion €13 Billion.

https://www.theguardian.com/business...land-state-aid”


Wow. Is the Apple empire starting to crumble like Nokia's did all those years ago? And, anyway, why are people at Apple claiming this ruling is bad news for Jobs??


OK, cheap joke.
Gigabit
30-08-2016
Originally Posted by Everything Goes:
“Today the EU will publish how much cash they want from Apple. Apple make approximately $18 Billion profit per quarter.

http://www.bbc.co.uk/news/business-37216176”

So about $14.5 billion. So about 80% of their quarterly profit!
jonmorris
30-08-2016
Apple's PR is working real hard to get customers and the public on side here with a nice story of how the company invested in Ireland in the 1980s. And the relevance is?

We went mad when some large businesses were able to negotiate lower tax payments here, but I see a fair few people are saying it's unfair.

It is so little money in the grand scheme of things that Apple should just pay and send out a message to other companies that they're the good guys.
Gigabit
30-08-2016
That Apple PR story contradicts itself halfway through!

At first they say Ireland is for research and distribution and that lots of jobs have been created. Then halfway through they say no value is created there. You couldn't make this up.
jonmorris
30-08-2016
Originally Posted by Gigabit:
“That Apple PR story contradicts itself halfway through!

At first they say Ireland is for research and distribution and that lots of jobs have been created. Then halfway through they say no value is created there. You couldn't make this up.”

I wonder if they use the same media advisors as Jeremy Corbyn?
Everything Goes
30-08-2016
Originally Posted by Gigabit:
“That Apple PR story contradicts itself halfway through!

At first they say Ireland is for research and distribution and that lots of jobs have been created. Then halfway through they say no value is created there. You couldn't make this up.”

That's a funny thing about jobs as part of their tax avoidance having a virtual head office with no employees

Quote:
“The probe found that Apple's profits were routed via Ireland to virtual head offices that had no employees, no premises and carried out no real activities.”

http://news.sky.com/story/apple-orde...taxes-10557945
mogzyboy
30-08-2016
I'll bet £11bn that they ultimately end up paying far less than £11bn back.

Anyway, the EU should butt out of an individual country's tax affairs. This is basically a test case for tax harmonisation across the Union.
Everything Goes
30-08-2016
Interestingly the Irish government really don't want the money which they could be doing with.

Quote:
“Apple’s billions in back taxes could cover the entire annual Irish health budget, build about 100,000 homes for the poor or pay off a chunk of the nation’s debt. So why doesn’t the government want the money?

Irish Finance Minister Michael Noonan on Tuesday vowed to fight a European Commission ruling that could force the world’s richest company to pay it at least 13 billion euros ($14.5 billion), more than twice the country’s entire 2015 corporate tax take and equivalent to about $3,000 for every man, woman and child. He drew fire from opposition lawmakers who say Dublin should take the money. For the government, though, the stakes are higher.

The government “will actively try to avoid recouping tax revenue owed to the Irish people,” Matt Carthy, a Sinn Fein member of the European Parliament said in a statement. “There is no justification to challenge a ruling against this deal, and the government should immediately rule out an appeal.””

http://finance.yahoo.com/news/why-ir...133731091.html

http://www.rte.ie/news/business/2016...sion-reaction/
maverickjesus
30-08-2016
The problem is if they don't appeal against having to recover the amount specified, they will be accepting the ruling in principle, which would then apply to the many other dodgy tax setups they are allow multinats to run from Ireland - effectively removing any value in them basing their operations there at all.

It's a really weird position for them to be in, but they only have themselves to blame.
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