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Apple Reaches Deal With France To Pay Estimated $571 Million In Back-Taxes (macrumors.com)
Apple has reached a deal with French authorities to pay an undeclared amount of back-dated tax. While the amount isn't disclosed, French media suggest the sum is around $571 million (500 million euros). MacRumors reports: France has been working diligently to stop tech companies like Apple from exploiting tax loopholes in the country. The loopholes are said to have allowed Apple to "minimize taxes and grab market share" at the expense of Europe-based companies. French President Emmanuel Macron is one of the leaders behind the tax crackdown on international tech companies, with a goal of bringing a more unified corporate tax system across the nineteen euro area states.
As noted by iPhon.fr, Apple and French tax authorities reached the agreement for the payment of several years of unpaid taxes in December, according to French newspaper L'Expansion. The agreement followed a meeting in October between Apple CEO Tim Cook and President Macron, in which both reportedly agreed that a solution would ultimately be enacted by the European Union rather than France.
As noted by iPhon.fr, Apple and French tax authorities reached the agreement for the payment of several years of unpaid taxes in December, according to French newspaper L'Expansion. The agreement followed a meeting in October between Apple CEO Tim Cook and President Macron, in which both reportedly agreed that a solution would ultimately be enacted by the European Union rather than France.
I'm glad it's Apple too, because they are one of the worst abusers. They invented the Double Irish with Dutch Sandwich tax dodge.
By tackling the worst one first they set a precedent that will make it much easier to get the rest to pay their fair share too.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
This is just legally due taxes that ANY other corp would have paid in time.
Tax evasion is illegally not paying due taxes, tax avoidance (tax avoidance being the legal use of tax laws to reduce one's tax burden) is legal and encouraged.
Did they avoid taxation or evade taxation?
--I like turtles...