cnocbui

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cnocbui
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  • EU tax investigation concludes, Apple hammered with $14.5 billion bill

    cnocbuicnocbui
    Well I said it would be billions rather than SOG's ludicrous millions.

    I hope the final outcome is that Apple eventually have to cough up.  They have over $200 Billion in the bank because they are worlds biggest and most effective tax avoider.  I hope this is just the start of all the other multinational tax dodgers finally getting what's coming to them.

    Of course the situation Apple finds itself in is all the fault of the US government, not Ireland or the EU as it is US tax legislation that allows US companies to indefinitely defer tax repatriation while pretending to their host countries their tax is payable in the US.
    ronnreroll

  • EU will order Ireland to collect over $1B in back taxes from Apple - report

    cnocbuicnocbui
    anantksundaram said:
    cnocbui said:
    sog35 said:
    Apple will not pay anything close to $1 billion.

    This will go to appeal and be stuck for at least 3 years.
    Then the US government will pass a law to bring back the cash to the USA.
    There will be no cash in the EU for them to collect.

    Eventually they will settle for about $200 million.
    Or nothing at all. The US government is taking this issue seriously with the EU, and this could end up becoming a major Trans-Atlantic spat. Lots of US companies are involved, not just Apple. This is far, far bigger than just one company.
    The US government will be risking a trade war if it takes any action/s other than verbal opinions.  The TTIP trade deal is dead as they couldn't agree on a single issue out of the 27.
    So? You think this is the first time such jawboning has happened? C'mon...
    No, I don't think this is the first time.  Do you think it's worth a trade war?  Although part of me wonders if that might not actually shock the world out of the economic twilight zone it seems currently stuck in.
    gwydionronn

  • EU will order Ireland to collect over $1B in back taxes from Apple - report

    cnocbuicnocbui
    sog35 said:
    singularity said:
    sog35 said:
    EU: You broke the law. You owe Ireland $1 billion

    Apple: What specific law did we break.

    EU: Uhhhhh.....some law about tax. Or some.....

    Apple: we have full documentation that we followed every single Irish tax law.

    EU: But you still paid too little tax!!! You didn't pay your fair share!!!! Give us the $1 billion

    Apple: But you still have not cited the law we broke

    EU: Well, one of your Irish corporations paid a 0% rate

    Apple: that was part of Irish law in 2007. Any company could have done the same.

    EU: But, but, but, but, but............To little taxes!  Pay your fair share!

    Apple: Again what law did we break and we will pay the tax.

    EU: Damn it!!! You broke no law but you broke the spirit of the law!
    Keep taking the pills. You have an overactive imagination.
    I'm sure the ruling will spell out why the EU considers the deal Apple had with Ireland to be against EU rules but you keep on dreaming about nonsensical conversations.
    Then tell me what rule Apple broke. Tell me. Don't just say they broke a rule.

    Tim Cook specificly said they BROKE NO RULES. Sorry I trust Tim Cook to say the truth than those liars at the EU.

    So what specific rule did they break?
    Not again!!!!

    Apple didn't really break any rule, the Irish government did.  This ruling by the EU will be aimed at the Irish government.

    The specific rule is that a government is not allowed to give what amounts to state aid to a company preferentially over other companies so as to have the effect of giving that company an advantage other companies couldn't avail of.

    In this instance, the state aid was in the form of a a tax break unavailable to other companies.  To right the wrong, the Irish government will be told to collect the tax from Apple it should have in the first place to ensure they will have paid the same rate of tax that is levied on other companies.
    gwydiongatorguysingularitywmforkronngiles

  • EU will order Ireland to collect over $1B in back taxes from Apple - report

    cnocbuicnocbui
    anantksundaram said:
    sog35 said:
    Apple will not pay anything close to $1 billion.

    This will go to appeal and be stuck for at least 3 years.
    Then the US government will pass a law to bring back the cash to the USA.
    There will be no cash in the EU for them to collect.

    Eventually they will settle for about $200 million.
    Or nothing at all. The US government is taking this issue seriously with the EU, and this could end up becoming a major Trans-Atlantic spat. Lots of US companies are involved, not just Apple. This is far, far bigger than just one company.
    The US government will be risking a trade war if it takes any action/s other than verbal opinions.  The TTIP trade deal is dead as they couldn't agree on a single issue out of the 27.
    ronn

  • EU will order Ireland to collect over $1B in back taxes from Apple - report

    cnocbuicnocbui
    sog35 said:
    cnocbui said:
    sog35 said:
    Apple will not pay anything close to $1 billion.

    This will go to appeal and be stuck for at least 3 years.
    Then the US government will pass a law to bring back the cash to the USA.
    There will be no cash in the EU for them to collect.

    Eventually they will settle for about $200 million.
    It will go to appeal but the money will have to be held in escrow.
    and you know this how?

    The EU doesn't even have the power to collect the money. Ireland will be the one calculating the amount. And you think the EU can force Apple to give them $1 billion? LOL. 
    I read it in the Irish Times which is a fairly credible source:

    Sources who have been briefed on the matter say the amount of tax Apple will owe will be in the billions, rather than the hundreds of millions of euros that Dublin had hoped for.

    However, the Government will appeal the commission’s finding, and says the money will not be available to spend, either now or in the future, Ministers have stressed. Depending on the terms of the decision, Apple may be required to pay the funds into an escrow account in the coming months.

    Ireland will have to calculate the amount based on the methodology they are provided with.  It is fairly probable someone would check their calculations.  The EU Commission can't force Apple to pay up but Ireland can.  If they chose not to,  The Commision would fine Ireland an equivalent amount.  Have Apple pay us a few billion or we have to pay them a few billion - hmmmmm, tough choice - not.
    ronn