Apple has just ponied up 14 Billion

CruelCoin

"It has been confirmed that Apple deposited €14.3 billion into an Escrow Fund (third party account) until a full agreement has been reached."

https://www.irishtimes.com/business/technology/state-recovers-14-3bn-from-apple-over-alleged-state-aid-1.3633191

€13 billion plus a billion in interest.

Meanwhile, Ireland is still appealing this.

Whatever you may think about them having /not having to pay it, it's astonishing to me that they actually have ahead of time!

canonball5

What country would be given 14.3 billion and then turn around and say "ah lads, it's grand, we don't really need it".

miece16

Ireland, because this country is backwards

Deise Vu

CruelCoin wrote: »

"It has been confirmed that Apple deposited €14.3 billion into an Escrow Fund (third party account) until a full agreement has been reached."

https://www.irishtimes.com/business/technology/state-recovers-14-3bn-from-apple-over-alleged-state-aid-1.3633191

€13 billion plus a billion in interest.

Meanwhile, Ireland is still appealing this.

Whatever you may think about them having /not having to pay it, it's astonishing to me that they actually have ahead of time!

It costs money to have money these days and Apple have a few bob to spare:

https://www.cnbc.com/2018/02/01/apple-earnings-q1-2018-how-much-money-does-apple-have.html

7aubzxk43m2sni

It's pretty sickening that the government are trying so hard to defend apple in this situation.

ARNOLD J RIMMER

canonball5 wrote: »

What country would be given 14.3 billion and then turn around and say "ah lads, it's grand, we don't really need it".

Do you think Irelands Tax regulation should be handed over to Brussels?

7aubzxk43m2sni

ARNOLD J RIMMER wrote: »

Do you think Irelands Tax regulation should be handed over to Brussels?

I think we should be held to account if we break laws we've agreed to.

OmegaRed

Its in [font=Open Sans, Arial, Helvetica, sans-serif]Escrow Fund, so its still Apples until the law says otherwise. And for anyone who thinks Ireland will see all off that 13bn, its EU countries who will take the majority of it. That's why Ireland are opposed to it, they wont get it and its in their best interest to ensure Apple keep it.[/font]

Seth Brundle

canonball5 wrote: »

What country would be given 14.3 billion and then turn around and say "ah lads, it's grand, we don't really need it".

When was that ever said or are you just posting the usual guff others post about it?

uch

OmegaRed wrote: »

Its in [font=Open Sans, Arial, Helvetica, sans-serif]Escrow Fund, so its still Apples until the law says otherwise. And for anyone who thinks Ireland will see all off that 13bn, its EU countries who will take the majority of it. That's why Ireland are opposed to it, they wont get it and its in their best interest to ensure Apple keep it.[/font]

Exactly, we will only be the middle men doling it out to others, let them do their own chasing

canonball5

ARNOLD J RIMMER wrote: »

Do you think Irelands Tax regulation should be handed over to Brussels?

Yes I do. We have shown that we're completely incompetent when it comes to our own tax regulation and perhaps they could do a better job. At the very least they couldn't do a worse job.

amcalester

canonball5 wrote: »

Yes I do. We have shown that we're completely incompetent when it comes to our own tax regulation and perhaps they could do a better job. At the very least they couldn't do a worse job.

Ireland's problem is not in collecting taxes, it's how to spend what we've collected.

canonball5

Seth Brundle wrote: »

When was that ever said or are you just posting the usual guff others post about it?

What part of the story did you not get? The Government is refusing to accept the money, they did everything in their power not to accept it.

Deise Vu

Jesse Thoughtless Kazoo wrote: »

It's pretty sickening that the government are trying so hard to defend apple in this situation.

They aren't trying to defend Apple, they are trying to defend the integrity of our Corporation Tax system. Whether you agree with our system or not, we are arguing that Apple paid the correct amount in a system open to all. The EU are accusing us of having a private deal going with Apple.

I would probably agree with the EU if Luxembourg didn't have a completely crooked system overseen by Jean Claude Juncker himself and if it wasn't for little things like when U2 were told they might not be deserving of a totally tax free income they didn't relocate HQ to the Netherlands. Also, I understand the effective rate in France is about 8% despite a headline rate many times larger than that (a common theme across our holier than thou comrades in the EU).

I expect a nuanced conversation on taxation and economics and not a bunch of mongs thinking they know what they're talking about.

OmegaRed

canonball5 wrote: »

ARNOLD J RIMMER wrote: »

Do you think Irelands Tax regulation should be handed over to Brussels?

Yes I do. We have shown that we're completely incompetent when it comes to our own tax regulation and perhaps they could do a better job. At the very least they couldn't do a worse job.

Untrue, we have one of the best tax regulation in the world and one of the most efficient (there is a pro side of recession and austerity after all ) I think you might be more annoyed with how that tax money is actually spent

aidanodr

Headline from Financial Times and Reuters on this:

Apple pays Ireland disputed back taxes ahead of appeal - FT

EU to scrap lawsuit against Ireland after Apple pays back taxes - REUTERS

Im confused. From these articles it appears that APPLE have now fully paid up taxes owed to Ireland? The debt fully discharged?

It would appear then that Ireland has decided not to lodge the cheque so to speak into IRELAND PLC account but instead its IRELAND who have popped it into this third party escrow account for the moment on foot of a case.

TBH I thought it was going to be APPLE & IRELAND placing the cash into an escrow account and that the transaction remains as tax not owed yet as far as Ireland and Apple are concerned until the outcome of the case both Apple and Ireland are fighting against the EU has been decided?

Get my meaning?

Seth Brundle

canonball5 wrote: »

What part of the story did you not get? The Government is refusing to accept the money, they did everything in their power not to accept it.

They havent been trying everything. They have stuck to the line that it was not all due to us.

ted1

canonball5 wrote: »

What part of the story did you not get? The Government is refusing to accept the money, they did everything in their power not to accept it.

Because it’s nit ours and Europe has already said if we get it. It’ll be divided between the countries it originated sold.

So if 10 iPhones was sold in France they’ll get tax for them , if 1 was sold in Ireland we get that tax and so on

paddydriver

Must be a bunch of lads getting fairly locked and well fed most nights off the week of the interest and commission being earned on that wedge!

Gunmonkey

And cue "The guberment can use that €13billion to build thousands of social houses and increase welfare to €70,000 a year and build a statue of Joe Duffy for O'Connell St" posts in....3....2...

weldoninhio

ted1 wrote: »

Because it’s nit ours and Europe has already said if we get it. It’ll be divided between the countries it originated sold.

So if 10 iPhones was sold in France they’ll get tax for them , if 1 was sold in Ireland we get that tax and so on

Apple are fully tax compliant with everything sold in Ireland. We aren't owed anything. We get nothing. Zilch. Zip. Nada.

Something the moronic masses seem to have missed. They think Ireland is 14bn richer right now.

Gimme A Pound

miece16 wrote: »

Ireland, because this country is backwards

It's because of the bigger, long-term picture and to avoid the risk of massive employers pulling out or ruling out Ireland as a destination.

It's easier to buy into soundbites like "Ireland is backwards" though.

Fr_Dougal

The money is just resting in our account

Agent Coulson

Just give everyone in the Country a free iPhone & iPad and call it quits.

Frank Bullitt

It should be used to pay for the housing crisis according to those in the know on Twitter.

Sounds legit.

murpho999

Do people who don't get that the government are trying to stop the EU from scrapping Ireland's low corporate tax rate that has ensured we have hundreds of thousands of jobs here?

If that goes then so will the companies and the jobs.

Sleepy

Agent Coulson wrote: »

Just give everyone in the Country a free iPhone & iPad and call it quits.

No thanks, I'd rather get my toys from a tech firm rather than a marketing one.

Grayson

canonball5 wrote: »

What country would be given 14.3 billion and then turn around and say "ah lads, it's grand, we don't really need it".

The way the government view it is that they don't want to see it happen to other multinationals. It's one thing to change the rules going forward however a company would be really worried if they found that the rules could be changed retroactively.

In this case the government gave apple a deal, it turns out that deal was illegal. I think they should pay. However you can see why are fighting it. They don't want any other company to think that they could be hit for additional taxes in the future despite honouring the agreement they have.

jmayo

canonball5 wrote: »

What country would be given 14.3 billion and then turn around and say "ah lads, it's grand, we don't really need it".

Was it one of your mates down the pub or a shinner wantabe that came up with that brilliant synopsis of the situation.

And as OmegaRed stated Ireland aint destined to get much of that 14 odd billion.

Only morons actually think that the other EU states will allow Ireland keep taxes on revenues raised in their states.

miece16 wrote: »

Ireland, because this country is backwards

Yeah it is backwards to not want Brussels to dictate how we collect taxes from foreign companies based here.

I do agree they should be paying more tax, but no fecking way do I want those fookers in the EU or in major EU capitals dictating how it is done.
They have long wanted to screw our low corporation tax because their own economies can't compete.
Fook them and the expensive chauffeur driven cars they rode in on.

canonball5 wrote: »

Yes I do. We have shown that we're completely incompetent when it comes to our own tax regulation and perhaps they could do a better job. At the very least they couldn't do a worse job.

Care to give us examples of how our tax regulation is poor here now?

Let me guess "Tax the rich" ehhh.

BTW I can give you copious amounts of examples of how the revenue raised is wasted, but that not regulation, it is spending.

Do you really think that Brussels have our best interests at heart ?

murpho999

Sleepy wrote: »

No thanks, I'd rather get my toys from a tech firm rather than a marketing one.

That's right, Samsung, who were proven to have copied Apple's designs do not do any marketing,