frac

boltsfan17 said:

gatorguy said:

AppleInsider said:

The U.S. could conceivably have claimed some of that money if Apple had decided to repatriate it, but the iPhone maker has so far avoided bringing cash back without a promise of lower taxes. Changes advocated by Republicans and the Trump administration could prompt Apple to take action.

...and IMO if they do the EU Commission won't care. 

I think Vestager is honestly convinced she right in trying what she sees as leveling the playing field, attempting to rectify what she perceives as unfair advantages some big multinationals are claiming for themselves to the detriment of smaller companies and individual consumers. She's done so with Google, and she'll do so with Apple. Personally I believe she goes too far, seeing things that just don't exist on the level she thinks they do and applying corrective fixes with too heavy a hand, but I don't think it's just about the tax money from Apple which the EU doesn't get for themselves anyway. Any recovered taxes go to the the individual countries where the tax obligation originates.

The EU should care really. If Apple ends up losing in appeals, the U.S. could fire back at the EU by subjecting European companies to double taxation. 

Rayz2016 said:

JanNL said:

Rayz2016 said:

JanNL said:

To put things in perspective, UK is taking all these measures because of exiting the EU. A lot of new (tax) law is aimed at strong lower taxes, to keep and attract companies. So in most cases the opposite direction of the EU.

Actually, these measures are being taken because of the massive £40billion it’s going to cost to leave the EU, along with the extra cost of having to pay to have access to the market the country has decided to leave. 

We will also need to spend millions on border controls – the same border controls that other EU countries have (try moving to Belgium), but the U.K. didn’t implement because EU migrants paying into the taxation system was something they were happy about, until they weren’t. 

And I doubt that getting foreign companies to pay their fair share of tax is going to attract them to the U.K.  

Hell, most of the biggest companies in this country have their “headquarters” next door to each other, on the same shopping street on the Isle of Mann. 

I don't know Rayz, it's a bit how you look at it...

- Is it going to cost £40 billion? That's what the EU asks...
- Paying to have access to the EU? UK is for many EU countries their biggest market, so they are eager to get treaties in place to continue to sell in the UK.

- Are there border controls? Structural border controls are forbidden by EU law within the EU zone. Crossing the border with Belgium a few times a week for the past 15 years, never had a control... I even moved to Belgium years ago and it was only a formality.

- Aren't there a lot of proposals to lower the taxes for businesses in the UK? Genuine question.

- But there are also a lot of real HQ's, think about the City/financial centre in London.

Is it going to cost £40billion. Yes, I reckon so.

http://www.independent.co.uk/news/uk/politics/brexit-latest-divorce-bill-cost-theresa-may-trade-talks-news-a8066356.html

The UK is a large market for German cars, which is why the German car manufacturers are clamouring for a deal, but no one else in Europe really seems that bothered. Since current party in charge has spent the last 40 years dismantling the country's manufacturing base, we are now in a poor position to by without a European export deal, and the Prime Minister knows it, which is why they have basically caved on every demand they made of the EU since Christmas. Once the Prime Minister hands over the cash, then the EU is ready to talk trade deals, and how much that will cost.

The European Medical Agency and the European Banking Authority are relocating with a loss of a thousand jobs and a lot of prestige; this is a stark contrast from earlier in the year when our chief Brexit bods said that European Agencies would stay in Britain even if we left the EU (which in theory could have been true).

No there are no structural border controls, but EU members are free to prevent anyone they want from entering the country. You can be turned away if they believe you have criminal intent, if they believe you have no job when you arrive, if they believe you have no accommodation, and contrary to popular belief, the EU does not grant you unfettered access to other member countries' social welfare system. 

To answer your question on the taxation proposals: well, there are always proposals; that's how this government works. There is a will to lower corporation tax, but with a £40billion bill in the offing, the worse slowdown in real earnings in sixty years, and our economic growth sliding down the place (I think it's just been announced we've fallen to sixth place, behind France), then I don't see rates falling any time soon. In fact, what we have is some clever sleight of hand designed to extract more money from the large corporations which will make it less likely they'll want to settle here.

http://www.cityam.com/276274/autumn-budget-2017-hammond-changes-corporate-capital-gains

Oh yes, banks do have their offices in London, but they have their 'head office' on the Isle of Man. This is not a real office, as it's probably only two floors, but registering there gives them massive tax breaks. 

It'll be interesting to see if London remains the finance hub of Europe. There's no reason why it shouldn't; we're leaving the EU, not Europe; but with the European Banking Authority leaving the city, that's not a good sign.

racerhomie said:

The entire continent of Europe is going down the drain.High taxes & importing terrorists are not a good thing.

xbit said:

Boris Johnson is such a clown. £37 million wasted on a bridge that was never built and that was never really feasible.

It's an embarrassment that he's now foreign secretary.