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EU Finance Ministers Line Up Behind $21B Tax Ruling Against Apple (herald-dispatch.com)
An anonymous Slashdot reader quotes the Associated Press: Dutch Finance Minister Jeroen Dijsselbloem urged Apple Saturday to "get ready" to pay up, as he and counterparts from other EU nations lined up behind a finding that the technology giant owes billions of euros due to more than a decade of improperly low taxation. Apple's bill could reach 19 billion euros ($21 billion) with interest, and both the company and Ireland, Apple's European headquarters are appealing the European Commission ruling. But on the last day of an EU finance ministers' meeting focused on ways to harmonize tax rules for international companies, Dijsselbloem told reporters that these "have an obligation to pay taxes in a fair way."
"International tax loopholes are a thing of the past," he said. Apple will have to pay back taxes both in the United States and Europe, he added, "so get ready to do that." Philip Hammond, his British counterpart, said the EU was keen "to make sure that international corporations pay the right tax at the right place. That's the fair way to do it, and we are going to make sure it happens."
Austria, France, and Italy are reportedly also watching the case closely.
"International tax loopholes are a thing of the past," he said. Apple will have to pay back taxes both in the United States and Europe, he added, "so get ready to do that." Philip Hammond, his British counterpart, said the EU was keen "to make sure that international corporations pay the right tax at the right place. That's the fair way to do it, and we are going to make sure it happens."
Austria, France, and Italy are reportedly also watching the case closely.
This is where push will come to shove.
You can have whole divisions of lawyers covering each and every aspect of the fine print to the nth level but the bottom line is;
Tax laws, breaks and reductions are not there to be professionally manipulated to the extent that you pay nothing.
Due to loopholes, exploitation and poor oversight megacorporations have had an unfair advantage for decades.
Apple execs will throw a hissy fit because they know they manipulated every legal loophole to pay less. "It's legal" they shout. The intent not to pay tax to any meaningful degree is fucking the rest of us over. The rest of us can decide to call BS and slap you with a fine to pony up what you owe.
Welcome to the iTaxes you owed us and never pay ALL THOSE YEARS -they are magical.
A 'singular oddity' is an event that cannot be explained and only happens when you are alone.
What trial? Was there a judge involved?
Sig?
If you don't pay your taxes, there doesn't need to be a judge or trial to collect those back taxes.
Apple could fight this ruling at a hearing, in front of a judge. But they know they'll just lose.
You are welcome on my lawn.
Unfair moderation of the parent. I'm Dutch, and completely agree with the sentiment expressed. Dijsselbloem is a hypocrite, as he, as Minister of Finance of the Netherlands has done absolutely nothing to prevent this type of back-dealing with large companies by his department. Ireland is probably the greatest offender of using taxation to screw over the other EU nations, but the Netherlands is a close second.
Sorry, but no. Apple (and Ireland) thought that a certain law was meant to be what they wanted it to be, and now got informed that they got it wrong.
Like, say, you going to jail for killing your mother in law because according to your definition she's not a human being, and the law disagreeing with you.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
They can still set whatever tax rate they like. What they cannot do is set a different tax rate for a specific company.
The US funds their 'Greek states' by funneling federal money over to them and reducing their sovereignity even further in the process. 'Schengen' is there in the US -- do you need a passport/visa to cross state lines? Who takes care of immigration in the US? And finally, the only civil war the US had was about leaving the union, a thing we're now going through with Brexit. No war in sight.
I'm not really clear on what you're arguing for here. Should the EU be structured more like the US, reduce sovereignity, and start building up the military to force Great Britain in line? Or should the US get rid of the dollar so that every state can devalue their own currency when they're in trouble? Please explain what the right structure of the EU would be, one that the US can follow without civil wars.