Apple has deep pockets and so does the EU, but the EU has a few other tricks up their sleeve to make Apple and Ireland comply with the ruling. Just deep pockets from Apple won't save them this time.
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Apple Expects Appeal of Irish Tax Ruling to Take 'Several Years' With No Impact on Near-Term Financial Results
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Apple has deep pockets and so does the EU, but the EU has a few other tricks up their sleeve to make Apple and Ireland comply with the ruling. Just deep pockets from Apple won't save them this time.
Tell me about it. Thing is, if they have to pay this back, (and god I hope with all my worth that they do), Ireland will still be the cheapest place to do business the right way, so they really going to pull out?
No.
And you base this on what? On the idiots in the UK?
Not that I'm representative at all but the EU is great.
UK is zero representative as politician have done nothing else than bashing the EU for decades and talking about rebates instead of embracing the idea and promoting the ideal and benefits.
If Apple drags it out through the courts for years I hope they get landed with an additional bill for all the legal costs.
Just pay up and shut up you greedy bastard Mr Cook.
Just pay up and shut up you greedy bastard Mr Cook.
First ruling in 1991, second ruling in 2007 for Apple Sales International and Apple Operations Europe
Don't blame the whole of the U.K. Realise that he vote to Brexit was almost 50/50. There were lots of us quite content to remain part of the EU!! It's not like it was a landslide result.
Hopefully intrests will start to be calculated from day one so the biggest tax cheating company in history won't escape justice.
One of the basic principles of EU is the single market. And to uphold this idea only exceptionally are member states allowed to give preferential treatment aka state subsidized aid. Otherwise the competition becomes unfair, and businesses in other states will not have the same terms.
If Ireland don't want to be part of the EU single market they shouldn't have agreed to it in the first place.
State Aid through the use of the tax system has recently been a greater focus and is the reason why high profile cases like these are surfacing now.
Other notable state aid cases have been airports and airlines, Estonian Air and Cyprus Airways had to close because illegal aid was given. Other airlines was basically barred from their primary markets because they were able to operate at operational loss. Other large cases have been Spanish football clubs and some Greek ports which have to repay the Greek government.
There are legal ways to give state aid, usually to develop impoverished areas, but the rules are relatively strict.
They'll honestly make that money back by that time if they actually have to pay.
Yeah they will show again what an azzhole company they are, blown up like Microsoft in the 90s.
Great products but not good for the people.
What does "good for the people" mean? The Apple deal was great for Ireland. Which people do you mean, exactly?
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In this case the rules changed as well.
In practice it doesn't unilaterally though. For example, Marijuana is illegal according to Federal law. Individual states however have legalized it, and Federal government has agreed to abide by the states' legalization.
In addition, it is Federally classified as having no viable medical use, however states have classified it as medically permissive.
I don't foresee the Federal Government stepping in years down the road then demanding everyone that had a medical card paying misdemeanor drug fines retroactively.
Seems very odd the EU can dictate how the state members tax businesses. Is there a separate EU (Federal) and State tax? Is the EU State tax fixed and defined as a constant across all EU members?
I guess what I'm asking is... is this tax being discussed the equivalent to Federal (mandated same for all) or State tax (defined by the EU member?)
Of course they won't pull out, but I doubt Joe Public reading and watching the news today and tomorrow will appreciate Apples threats. It's funny though, no matter what Apple does, it's ALL made in China still!
In terms of what might be viewed as a good deal for a member state, 14bn or so in lost tax revenue does seem to be a reasonably poor return for a reasonably small number of jobs in that particular member state. To the second point, state aid and its impact on fair competition has long been a core focus of the EU. Changes in 2013 I believe allowed the EU to open inquiries in more cases, but the first investigation under those new powers was launched in 2015 whereas the case we're discussing here was launched in 2014 - unless you're talking about some other rule change???
The EU does not tax. It receives accorded contributions from the governments, and redistributes a ton of money in diverse projects and subsidies.
Here it is about violating EU competition laws in the form of an individualized tax break.
It's looking like Ireland broke the law. What that means is that Apple isn't on the hook for penalties AND back taxes.
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Google, Microsoft, Starbucks, McDonald's and among others used the same scheme.
"The problem with socialism is you eventually run out of other peoples money." -- Margret Thatcher
Expect more stuff like this from the EU after Brexit.
Nigel Farage said it best when he addressed the EU General Assembly right after Brexit. He called them a bunch of people that never owned a business nor created a job. They just tax and chase some rainbow of a social ideal that never exists while suppressing the rights and freedoms of millions.
When the British Bankers are free of EU regs, expect them to do some very sweetheart deals that will make Irish banks sweat.
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Expect more stuff like this from the EU after Brexit.
Nigel Farage said it best when he addressed the EU General Assembly right after Brexit. He called them a bunch of people that never owned a business nor created a job. They just tax and chase some rainbow of a social ideal that never exists while suppressing the rights and freedoms of millions.
When the British Bankers are free of EU regs, expect them to do some very sweetheart deals that will make Irish banks sweat.
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Socialists do not deserve tribute in the form of taxes.