It has the appearance of a cheap tax grab, emboldened by public anti big-business sentiments.Europe talks tough but its economy is not in great shape, and its politics are not that stable. Chasing away American companies will not help either.
It has the appearance of a cheap tax grab, emboldened by public anti big-business sentiments.Europe talks tough but its economy is not in great shape, and its politics are not that stable. Chasing away American companies will not help either.
Apple has been paying next to nothing on taxes. Yet their products seem to be on very expensive side.More tax just means more cost to the consumer.... tax them nothing tbh.
The sooner we leave this pointless waste of money the better. Bring on the Brexit vote.
Old Europe is litigating against Starbucks? Interesting, considering the thousands of Starbucks stores appearing all across the EU.
A decision in the European Commission's probe of Apple's tax affairs in Ireland may not be reached soon, according to EU competition chief Margrethe Vestager (via Bloomberg).Apple is one of several multinational corporations, alongside Amazon, McDonald's, Starbucks, and others, that have been targeted for possible corporate tax avoidance in Europe. Brussels launched the probe in June 2014, and it formally accused the iPhone maker of receiving illegal state aid from Ireland three months later.![]()
If Apple's $64.1 billion in profits generated from 2004 to 2012 are subjected to a 12.5% tax rate, compared to its current foreign tax rate of about 1.8%, the company could owe more than $8 billion in back taxes. Apple continues to deny any wrongdoing, and vows to appeal any decision that goes against the company.
Apple operates multiple subsidiaries in Ireland to pay significantly less tax outside of the U.S., where it earns up to 60% of its revenue. A decision in the tax probe was originally expected in late 2015, but the European Commission's request for additional information has pushed the investigation into 2016.
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Article Link: EU Competition Chief on Apple Tax Probe: 'Don't Hold Your Breath'
Your government does the exact same thing. Worse even, it let Google off the hook, in spite of Google having generated more than £7 billion in profits, of which they only paid £200 million in taxes. At least the EU Commission is showing some initiative by doing what the EU governments ought to have done themselves. Tax evasion would not have been a problem if governments would have done the right thing from the start.
Certainly. I will be most positively surprised if they can really pull it off though. For some reason the EU members usually only work together when the calf has drowned. The always make the same mistakes. Germany and France, maybe even the UK first make up their minds and then the others basically don't have much choice. The northern and western countries always have to pay for the southern and eastern. etc.At least the EU Commission is showing some initiative by doing what the EU governments ought to have done themselves. Tax evasion would not have been a problem if governments would have done the right thing from the start.
Europe's strong competition law is one of their positives.Europe is enfeebled and unable the compete on the global stage. Hence, legal action against innovative, ground-breaking American corporations.