cnocbui
About
- Banned
- Username
- cnocbui
- Joined
- Visits
- 15
- Last Active
- Roles
- member
- Points
- -280
- Badges
- 1
- Posts
- 3,613
Reactions
-
EU tax investigation concludes, Apple hammered with $14.5 billion bill
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.
-
EU will order Ireland to collect over $1B in back taxes from Apple - report
anantksundaram said:cnocbui said: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.
-
EU will order Ireland to collect over $1B in back taxes from Apple - report
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!
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.
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?
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.
-
EU will order Ireland to collect over $1B in back taxes from Apple - report
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.
-
EU will order Ireland to collect over $1B in back taxes from Apple - report
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.
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.
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.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.