... but apparently "open" to any corporation (if true), so therefore legal. ...
Well I wouldn't call it "open to any corporation" as it was a secret deal with Apple and Ireland refusing to tell the details as long as the could and were legally forced to do so.
On a very-related and interesting note the EU Commission has also ordered Amazon to pay upwards of $300 million for taxes that should have paid to Luxembourg, claiming just as in the Apple case that they benefited from illegal state aid, and by similar means thru creative transfer pricing, IP royalties, and funneled thru untaxable entities. Amazon's response should sound familiar: it believes it did not receive any special treatment from Luxembourg and that it paid tax in "full accordance with both Luxembourg and international tax law."
"We will study the Commission's ruling and consider our legal options, including an appeal" the firm said in a statement.
Tim is simply waiting for the tax rate in the US to be lowered otherwise there would be no problem. Is this cynical and perhaps immoral? I'll leave that for the reader to decide.
The money in question is on profits made in Europe so even if the rate goes down in the US, the money would still stay in Europe.
Comments
https://uk.reuters.com/article/uk-eu-apple-taxavoidance/eu-takes-ireland-to-eu-court-over-13-billion-euro-apple-tax-bill-idUKKCN1C913B?il=0
On a very-related and interesting note the EU Commission has also ordered Amazon to pay upwards of $300 million for taxes that should have paid to Luxembourg, claiming just as in the Apple case that they benefited from illegal state aid, and by similar means thru creative transfer pricing, IP royalties, and funneled thru untaxable entities. Amazon's response should sound familiar: it believes it did not receive any special treatment from Luxembourg and that it paid tax in "full accordance with both Luxembourg and international tax law."
"We will study the Commission's ruling and consider our legal options, including an appeal" the firm said in a statement.
https://www.cnbc.com/2017/10/04/amazon-eu-tax-bill-luxembourg-deal.htmlHere's what Tim has to say https://www.ped30.com/2016/08/30/apple-taxes-tim-cook-response/