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EU Takes Ireland To Court For Not Claiming Apple Tax Windfall (reuters.com)
Philip Blenkinsop, reporting for Reuters: The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple, a move labeled as "regrettable" by Dublin. The Commission ordered the U.S. tech giant in August 2016 to pay the unpaid taxes as it ruled the firm had received illegal state aid, one of a number of deals the EU has targeted between multinationals and usually smaller EU states. "More than one year after the Commission adopted this decision, Ireland has still not recovered the money," EU Competition Commissioner Margrethe Vestager said, adding that Dublin had not even sought a portion of the sum.
in back taxes as it had been given an unfair tax deal in Luxembourg. OK: Amazon saved some tax, but that saving allowed it to under-cut its rivals, some of who have been put out of business - will there be any compensation for those competitors, the cost of which could dwarf the back-tax bill ? I suspect that the answer is no in which case Amazon's dodgy dealings have been highly profitable and will continue to be so in the future -- as it has fewer competitors.
Yes, God help us if companies are forced to pay their legally required taxes
Actually, Ireland wants to - and will - remain in the EU as they benefit from membership much more than Britain. Also, the EU has already told Catalonia that they (EU) will NOT recognize their claim of independence. But sure - keep stirrin the pot, Mr. Trump-Bannon-Farage.
but then big companies could not use the tax loophole to avoid paying tax in Europe... you could not safely transfer the low tax earnings from Ireland via EU free internal money transaction to Luxembourg or Netherlands to transfer then to the US using low tax money transfer from those countries (you can add other loops around, but this is basically it)
This are well known loopholes that the each Country politics and EU central politics fail to close, because it would affect very powerful companies and, of course, also private money transfers... those politics have to earn their money!! but there is problem, the remaining tax payers (common people) will pay more tax for covering that missing money!
Higuita
It wouldn't matter if the EU did recognize Catalonian independence as Spain would probably not consent to them joining the EU.
Also, isn't part of the reason that all of these companies incorporate in Ireland or have their European branched headquartered there officially so that they can funnel all of the revenue earned in the EU through Ireland for the lower taxes. Ireland leaving the EU removes the reason for those corporations to be there in the first place. It makes no sense for them to want to leave.
No, it's actually based on decency. And Europe isn't Socialist. It's Democratic Socialist which means certain things are sacrosanct (e.g. health care, education, etc.) and everything else is fair game as long as the rules are followed.
In Europe you generally don't see headlines about how some big corporation just reported its largest profit in its entire history and is also laying off thousands of workers.
Anonymous Cowards generally receive no replies because you're a coward and I'm a bitch
No, it's so they can funnel all the revenue earned GLOBALLY through Ireland.
They did pay their legally required taxes to Irelend. The EU decided that Ireland's sovereign tax rate wasn't high enough. It's big EU countries trying to dictate what Ireland should do. That should not be legal.
EU as a whole, and most member and quasi-member nations, believe in social welfare, not corporate welfare. The US is different in this regard. Americans are against social welfare, but very much in favor of corporate welfare, under the misguided belief that this will translate into jobs.
It doesn't of course. Less taxes means more profits but more profits doesn't lead to more jobs. But since Americans are against social welfare, they have a comparatively poor public education system, so it's hardly surprising that the average american voter can not understand much more than rudimentary economics. Just look at how much they confuse the concept of a government budget with that of their own personal budget. Utterly senseless.
I don't know about Europe but the EU isn't Democratic or Socialist. It's run by an unelected group who's primary concern is the protection of the banking system (especially the German banking system). If the EU were democratic or socialist Britain wouldn't be leaving. Catalonia, on the other hand would be as their beef is that it's not financially right-wing enough.
There is a reason people like Trump and Farrage won.
You may not agree but the majority of communities have real issues affecting them that DNC/EU leadership is failing to resolve and the Catalexit, Brexit (and more) is a symptom of overreaching governments.
Read up on the role the US/EU played in getting Hitler in power, the issues in Britain, France and Spain are very similar to post-WWI Germany.
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Yes. And that means the companies were not paying their legally required taxes? Who decides what companies should pay within a sovereign nation? Is it the nation, or the EU? And if there is an issue - does it mean the company didn't pay its legally required taxes, or that the nation violated some trade agreement it had?
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Yes. And that means the companies were not paying their legally required taxes?
Yes, companies were not paying their legally required taxes.
Who decides what companies should pay within a sovereign nation? Is it the nation, or the EU?
The nation. The nation made a decision to agree to certain terms when it joined the economic union known as the European Union. Those terms are binding on the nation as long as they're part of that union. Not enforcing those terms is the sovereign equivalent of signing up for a cell phone contract, then telling the cell phone company you're only going to pay 30% of the bill each month, because it's a better deal for you.
And if there is an issue - does it mean the company didn't pay its legally required taxes, or that the nation violated some trade agreement it had?
Both. The company didn't pay its legally required taxes and the nation that is letting it is violating a trade agreement by doing so.
Really, this isn't hard. If you believe in the rule of law at all, then you must also believe that sovereign nations are subject to it, or treaties are totally meaningless, always. Which is certainly an option, if you want the world at each other's throats on a constant basis. Those of us who prefer peace and quiet would like to see treaties honored.
And Apple can pay their fucking taxes. I have to. So do they.
I already said, "Delaware."
It little behooves the best of us to comment on the rest of us.