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Joined: Aug 2005
Posts: 43,738
Campfire 'Bwana
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Campfire 'Bwana
Joined: Aug 2005
Posts: 43,738 |
plus interest... To be appealed. Ouch. Apparently they've been getting charged as little as 0.005% taxes by Ireland. Course, Apple has much, much more than that in the bank (mostly in overseas banks to avoid US taxes), so it's not going to break them. http://www.theregister.co.uk/2016/08/30/eu_commission_rules_on_apple_ireland_tax_sweetheart_deal/Updated: The European Commission has ruled that tax arrangements between Ireland and Apple were in breach of the EU's state aid laws, and said the American corporation needs to cough up €13bn in back taxes, plus interest.
Delivering her judgment in Brussels this morning, the EU's competition commissioner, Margrethe Vestager, said:
Member States cannot give tax benefits to selected companies – this is illegal under EU state aid rules. The Commission's investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years. In fact, this selective treatment allowed Apple to pay an effective corporate tax rate of 1 per cent on its European profits in 2003 down to 0.005 per cent in 2014.
The European Commission (EC) launched its investigation into the tax arrangements between Apple and Ireland in 2014. Until now, Apple has managed to route almost 90 per cent of its profits outside of the US through its Irish subsidiaries, as they hold the rights to all of the company's intellectual property.
Vestager stressed that the €13bn, which Ireland must arrange to recover, was not a penalty but rather the sum of Apple’s unpaid taxes. The amount could be lessened if Apple’s Irish subsidiaries moved more money to their parent company in the US – where it would become subject to US corporation tax.
Apple's two incorporated companies in Ireland, Apple Sales International and Apple Operations Europe, were found to be fantasy organisations concocted between the Irish taxman and Cupertino which "did not correspond to economic reality: almost all sales profits recorded by the two companies were internally attributed to a 'head office'" which the commission found only existed on paper.
“ The Savage 99 Pocket Reference”. All models and variations of 1895’s, 1899’s and 99’s covered. Also dates, checkering, engraving.. Find at www.savagelevers.com
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Joined: Jul 2004
Posts: 46,965
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jul 2004
Posts: 46,965 |
Apples should turn off all the Iphones and Ipads in Europe. Flash FU EU, on the screen and be done.
We may know the time Ben Carson lied, but does anyone know the time Hillary Clinton told the truth?
Immersing oneself in progressive lieberalism is no different than bathing in the sewage of Hell.
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Joined: Jan 2007
Posts: 35,900
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2007
Posts: 35,900 |
Hope Apple shuts down operations and leaves the EU holding the bag.
The 280 Remington is overbore.
The 7 Rem Mag is over bore.
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Joined: Jun 2007
Posts: 29,786
Campfire Ranger
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Campfire Ranger
Joined: Jun 2007
Posts: 29,786 |
Apples should turn off all the Iphones and Ipads in Europe. Flash FU EU, on the screen and be done. So, does that mean you think Apple shouldn't pay tax in the EU (or US), and should destroy their customers private property. Not keen on your business model.
These are my opinions, feel free to disagree.
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Joined: May 2001
Posts: 18,345
Campfire Ranger
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Campfire Ranger
Joined: May 2001
Posts: 18,345 |
How much you want to bet the Fed's will look seriously at something similar to go after states that give tax breaks to corps. Can't have high tax states (D) competing with low tax ones (R).
Carpe' Scrotum
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Joined: Oct 2011
Posts: 59,046
Campfire Kahuna
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Campfire Kahuna
Joined: Oct 2011
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The EU needs cash to bail out Greece.
Paul
"I'd rather see a sermon than hear a sermon".... D.A.D.
Trump Won!, Sandmann Won!, Rittenhouse Won!, Suck it Liberal Fuuktards.
molɔ̀ːn labé skýla
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Joined: Aug 2005
Posts: 43,738
Campfire 'Bwana
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Campfire 'Bwana
Joined: Aug 2005
Posts: 43,738 |
The EU needs cash to bail out Greece. EU isn't collecting it, they say Ireland needs to collect it. Ireland is saying they don't want it, but EU says they still have to take it. I'm guessing other companies have been complaining about Apple getting a sweet tax deal that they can't get. In that vein I kind of support the EU, governments shouldn't be picking who wins and who loses by subsidizing them.
“ The Savage 99 Pocket Reference”. All models and variations of 1895’s, 1899’s and 99’s covered. Also dates, checkering, engraving.. Find at www.savagelevers.com
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Joined: Jul 2004
Posts: 46,965
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jul 2004
Posts: 46,965 |
Apples should turn off all the Iphones and Ipads in Europe. Flash FU EU, on the screen and be done. So, does that mean you think Apple shouldn't pay tax in the EU (or US), and should destroy their customers private property. Not keen on your business model. We're even. I'm not keen on the EU's.
We may know the time Ben Carson lied, but does anyone know the time Hillary Clinton told the truth?
Immersing oneself in progressive lieberalism is no different than bathing in the sewage of Hell.
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Joined: Dec 2009
Posts: 31,601
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2009
Posts: 31,601 |
So are they the azzhats responsible for this *#*#^*{+\'{^}%~{€ auto correct program?????
Auto correct is the bane of IPhones!!!
Founder
Ancient Order of the 1895 Winchester
"Come, shall we go and kill us venison?
And yet it irks me the poor dappled fools,
Being native burghers of this desert city,
Should in their own confines with forked heads
Have their round haunches gored."
WS
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Joined: Jan 2001
Posts: 59,140
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2001
Posts: 59,140 |
So are they the azzhats responsible for this *#*#^*{+\'{^}%~{€ auto correct program?????
Auto correct is the bane of IPhones!!! Think of all the stress I avoid by NOT having one of those.... Ahhhhhhhhhhhhhhhhhhh!
Ex- USN (SS) '66-'69
Pro-Constitution.
LET'S GO BRANDON!!!
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Joined: Mar 2001
Posts: 12,153
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2001
Posts: 12,153 |
Auto correct is the bane of IPhones!!!
You know you can turn it off, don't you? I don't turn mine off because I enjoy beotching about it too much! 
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Joined: Sep 2007
Posts: 26,524
Campfire Ranger
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Campfire Ranger
Joined: Sep 2007
Posts: 26,524 |
So are they the azzhats responsible for this *#*#^*{+\'{^}%~{€ auto correct program?????
Auto correct is the bane of IPhones!!! You need to type in Irish, apparently. They don't collect OR correct...
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Joined: Nov 2005
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2005
Posts: 22,735 |
Apple is seen as a cash cow. The EU is devoid of money and legitimacy.
My home is the "sanctuary residence" for my firearms.
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Joined: Mar 2013
Posts: 308
Campfire Member
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Campfire Member
Joined: Mar 2013
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So Apple found out the hard way that setting up in another country to dodge taxes might bite you in the butt? Gee, I'm all broken up about that. I agree that the EU has significant issues, but a level playing field is what you are supposed to get by joining it and it looks like that is what they are enforcing here. Might be a few other companies sitting up and taking notice on this one.
Life - and the good sense to live it!
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Joined: Aug 2014
Posts: 4,189
Campfire Tracker
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Campfire Tracker
Joined: Aug 2014
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Maybe ... Just Maybe ... If the U.S. didn't have the highest corporate tax rate in the industrialized world (nearly 30%) there wouldn't be such an economic and financial incentive for Apple (and Amazon and Google) to play these "tax-shell games." You think??
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Joined: Jun 2007
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Campfire Ranger
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Campfire Ranger
Joined: Jun 2007
Posts: 29,786 |
Maybe ... Just Maybe ... If the U.S. didn't have the highest corporate tax rate in the industrialized world (nearly 30%) there wouldn't be such an economic and financial incentive for Apple (and Amazon and Google) to play these "tax-shell games." You think?? If you don't think those companies would screw anyone or anything for an extra few cents then you have rocks in your head.
These are my opinions, feel free to disagree.
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Joined: Mar 2004
Posts: 12,806
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2004
Posts: 12,806 |
EU prints their money. In situations like that, taxes are just the punishment of disfavored groups.
Islam is a terrorist organization.
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Joined: Jan 2006
Posts: 21,810
Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
Hope Apple shuts down operations and leaves the EU holding the bag.
Apple pays only 0.005% taxes in Ireland (a specific loophole designed to woo Apple; that's only 1/2 of 1% - a real bargain!). Ireland's normal corporate tax rate for business profits is 25%. Thus, this favored rate was intended to woo Apple. Apple has no operations in Ireland, only a shell company with NO employees and this is what the EU is complaining about. Ireland gets some tax income with no liabilities while the rest of the EU gets nothing to support their operations. This is considered unfair and the EU acted.
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Joined: Jan 2006
Posts: 21,810
Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
Maybe ... Just Maybe ... If the U.S. didn't have the highest corporate tax rate in the industrialized world (nearly 30%) there wouldn't be such an economic and financial incentive for Apple (and Amazon and Google) to play these "tax-shell games." You think?? The "official" US corporate tax rate is high, no doubt about that. But, no one pays the official rate; Congress has ensured that virtually every company gets a loop-hole deduction (e.g., depletion allowances, depreciation allowances, etc.) and their effective rate is considerable less.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Apples should turn off all the Iphones and Ipads in Europe. Flash FU EU, on the screen and be done. So, does that mean you think Apple shouldn't pay tax in the EU (or US), and should destroy their customers private property. Not keen on your business model. You speak of business models? How about the "model" of an unelected, all seeing, all knowing govermental entity telling another country how to run their business? Your thoughts?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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