Slashdot Mirror
Apple To Start Paying Ireland the Billions It Owes In Back Taxes (engadget.com)
Last year, Apple was ordered to pay a record sum of 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker's tax bill. "But Ireland was rather slow to start collecting that cash, which led the Commission to refer the Irish government to the European Court of Justice in October due to Ireland's non-compliance with the 2016 ruling," reports Engadget. "However, the Wall Street Journal reports today that the country will finally start collecting those billions of dollars owed by Apple and it may start doing so early next year." From the report:
Both Apple and Ireland have fought back against the ruling -- Ireland has said that the European Union overstepped its authority and got some of the country's laws wrong while Apple has maintained that the amount it's being told to repay was miscalculated. Both are continuing to appeal the decision and the money will sit in an escrow fund while they do so. Ireland has said that negotiating the terms of that fund is what has held up its collection of the money but the European Commission said that the action it has taken against Ireland for failing to follow the 2016 ruling will proceed until the money is collected in full.
I hate it when companies think it is OK to become filthy rich and not have to pay any taxes. Instead they move their money into some off shore account to avoid this. I guess Apple should think about putting them money back into the US and help OUR economy!
Ireland saw an opportunity to steal tax revenue from other countries in order to provide minor benefits to its own local economy. It got called out for it and now is whining about it. Ireland would be one of the countries to suffer the most should the EU dissolve or become irrelevant, they depend on it hugely to maintain their economy.
Apple doesn't owe any taxes in Ireland, as defined by the laws of Ireland.
Incorrect, the laws of Ireland recognize the treaties that make Ireland part of the EU. And the language of those treaties recognizes the authority of the EC on this issue.
If Ireland wants to change its laws to allow it to charge Apple no tax it can follow Britain's example and do so.
The EU, a soon-to-be irrelevant third party, saw a bucket of cash it wanted and is somehow coercing both parties to get an unjustified payout.
Also incorrect, the tax in question is being paid to Ireland, not the EU. The reason they EU is getting involved is the EU has rules to avoid countries engaging in a race to the bottom to attract major corporations. Ireland violated those rules.
I stole this Sig
Simple solution: Ireland needs to impose a 500% tax on all domestically produced Champagne and Camembert. And then scream like hell when France undercuts it's tax revenues.
Have gnu, will travel.
Yes, because leaving the EU is working out so well for the UK, I'm sure it will work out even better for a country with a much smaller economy, a large chunk of which is based on being a convenient place for multinational corporations to put their EU presence.
I am TheRaven on Soylent News