nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Ireland could face a fine of €1,000,000,000 (yes, one billion) in EC Apple probe

My name is URL

The $8 billion in back taxes that Apple could owe in the wake of a preliminary report by the European Commission (EC) on Tuesday would be dwarfed by the amount Apple saved through tax deals that the company struck with the Irish government over the past three decades.

Ireland’s 12.5 percent corporate tax rate is low by international standards, but a U.S. Senate subcommittee found last year that Apple has managed to pay an effective tax rate of less than 2 percent and even no taxes on some profits in Ireland.

If the EC decides the tax deal is state aid to Apple, it could fine Ireland up to $1.26 billion and Apple up to 10 percent of its revenue, which could amount to $17 billion. But the preliminary report suggests that the EC would seek “recovery of the aid,” which could be about $8 billion or billions more, depending on how many years of back taxes the EC would seek.

http://www.ibtimes.com/apple-inc-could-owe-8-billion-back-taxes-eu-1697030

What's everyone's take on this? I'm noticing a lot of people who are usually very pro EU, now saying they should mind their own business.. which is a bit ironic really.

Is expecting huge companies to pay their fair share of taxes really a bad thing?

Find more posts tagged with

Quick Links

Comments

Tail Docker

The Diabolical Monocle wrote: »

<
has an underpants on head.

What about the pencils?

fleet_admiral

Tin Foil Hat wrote: »

Only now?
Anyone who ever thought that centralising decision making for 27 countries in the German Chancellors office would work in the interests of a small island floating behind another island out in the North Atlantic has an underpants on their head and two pencils up their nose. It is, and always was, an absolutely fukking stoopid idea.

I have been pro european up until recently. I am finding myself agreeing with David Cameron more and more now and Im fast becoming anti EU

0byme75341jo28

I want to have sex with Angela Merkel.

Satriale

Tin Foil Hat wrote: »

Only now?
Anyone who ever thought that centralising decision making for 27 countries in the German Chancellors office would work in the interests of a small island floating behind another island out in the North Atlantic has an underpants on their head and two pencils up their nose. It is, and always was, an absolutely fukking stoopid idea.

QFT.
Please run in the next GE...

kippy

ted1 wrote: »

Because the cost of doing buisness will increase. Double Irish loophole will be closed.

I dont think this has anything to do with the double Irish loophole tbh.

fleet_admiral

Lyric Spicy Panel wrote: »

I want to have sex with Angela Merkel.

bet ye she has a massive merkin

RobbingBandit

Lyric Spicy Panel wrote: »

I want to have sex with Angela Merkel.

Turkey Jowls and the ability to channel the spirit of Der Fuhrer is a real turn on.

RobbingBandit

fleet_admiral wrote: »

bet ye she has a massive merkin

It is on her head.

VinLieger

Okay how about we make a deal? We will pay the fine if the EU agree we no longer have to support all the bad gambles their banks made.

Mint Aero

They've a f*cking cheek asking everyone to tighten their belts, and letting the richest of the rich off lightly in tax. C*ntin' f*ck c*nts at their best.

Dyr

You can take our water
You can take our income
But you'll NEVER take our corporate tax rate!

I think that about sums up Irelands priorities

Dempsey

All part of the master plan to have tax harmonisation across the EU.

The EU is showing its true colours and the people of this country still think we can't survive without them. People laughed at Scotland for having Stockholm syndrome...

Augmerson

Dempsey wrote: »

The EU is showing its true colours and the people of this country still think we can't survive without them. People laughed at Scotland for having Stockholm syndrome...

I don't follow.

Scotland, as part of the UK, is still in the EU.

kippy

Dempsey wrote: »

All part of the master plan to have tax harmonisation across the EU.

The EU is showing its true colours and the people of this country still think we can't survive without them. People laughed at Scotland for having Stockholm syndrome...

Eh...we cant.....

WoollyRedHat

Mint Aero wrote: »

They've a f*cking cheek asking everyone to tighten their belts, and letting the richest of the rich off lightly in tax. C*ntin' f*ck c*nts at their best.

We badly need our corporationt tax, if harmonisation is allowed to happen we're in trouble in terms of attracting and keeping multi corporations. It's one of the few things the government has got right.

holystungun9

Lyric Spicy Panel wrote: »

I want to have sex with Angela Merkel.

OMG, yes! So hot to have my hairy gut and her sweaty gunt, rubbing and slapping off each other as we do our sexy naked love dance. Add some clothes pegs, a table tennis paddle, gaffer tape, some wire gauze and a size 17 spanner...now that's a good night!

Also, down with loop holes!

monkeysnapper

Well fcuk it anyway, after years of always wanting a I phone I finally get one... Does this mean I'll have to give it back ?

My name is URL

Augmerson wrote: »

I don't follow.

Scotland, as part of the UK, is still in the EU.

I think he means in so far as that they were 'afraid' to go it alone outside of the UK

Anyway, state-aid to companies is illegal under competition laws. The EC aren't just pulling ideas out of their arse and applying them exclusively to Ireland. Other nations and companies are under the same scrutinies and subject to the same sort of regulation.

Starbucks in the Netherlands and Fiat in Luxembourg are also being investigated at present. Naturally Apple, as the biggest market capataliser in the world is getting most attention.

And it's not about harmonisation, it's about ensuring a basic degree of competitiveness within the EU. Nobody is demanding that we change our CT rate in all of this (though many would like us to), they just want us and other countries to commit to the one we set ourselves, without any underhanded backroom dealings that give us an unfair advantage.

Rucking_Fetard

kneemos wrote: »

Why don't they close the loopholes instead of concentrating on a thirty year old deal?

New Global Plan Would Crack Down On Corporate Tax Avoidance

Dempsey wrote: »

All part of the master plan to have tax harmonisation across the EU.

kippy

WoollyRedHat wrote: »

We badly need our corporationt tax, if harmonisation is allowed to happen we're in trouble in terms of attracting and keeping multi corporations. It's one of the few things the government has got right.

If harmonisation happens in a fair and transparent manner, we're sound.
France and indeed other nations have effective corpo tax rates lower than ours.
The thing we have over them, I believe, is the double Irish thing - which to be honest is probably something that needs getting the heave ho anyway.
At this point a lot of the major multinationals have invested serious money in this country - to pull out would cost significant money, especially IF other states in the EU have the exact same tax laws at that point.

If the government focused on reducing other costs for business, ahead of other states, there might be incentives there to come to Ireland,

My name is URL

Anyone want to do some math and figure out how much every gainfully employed person would need to pay towards a billion euro fine? Has to be in or around €1000 each.

A thousand euro.. because others don't want to pay for the privilege of operating here with massive profits

EmilyHoward

The only way to resolve this is through the use of space cash

diomed

Need a poll
1. Tell them to stick it
2. Tell them to stick it on the tab

darkpagandeath

diomed wrote: »

Need a poll
1. Tell them to stick it
2. Tell them to stick it on the tab

Stick what prey tell ? If Ireland has been breaking/bending the law we have to pay up. I made a thread about large corporations here not paying tax and how long could we hold the EU off on it. Most people were telling me the EU could do absolutely nothing. How very very wrong they were.

Wompa1

kippy wrote: »

At this point a lot of the major multinationals have invested serious money in this country - to pull out would cost significant money

You'd think so wouldn't ya?

Fruit of the Loom closed down all their factories in Ireland and moved them to Morocco. Dell moved from Limerick to Poland.

The media in Ireland tells us every time jobs are created it's because our highly skilled workforce. It's complete and utter muck. Look at the majority of jobs created over the last 2 years....Phone support with French, German, Spanish, Dutch, Italian etc. Mostly hiring in people from other European countries...which is fine but it's not because of our talent pool. It's all about the tax breaks.

We're leading Europe in terms of tech jobs for the big companies. And our University courses in Computer Sciences and IT are woefully behind the curve on where the Industry is at. If we have to compete on the grounds of actual skill and other factors. We're beyond f**ked

Mint Aero

WoollyRedHat wrote: »

We badly need our corporationt tax, if harmonisation is allowed to happen we're in trouble in terms of attracting and keeping multi corporations. It's one of the few things the government has got right.

Why do we need to help Apple avoid tax? It's perpetuating the ever increasing divide between the wealthy and poor in our society. Who has benefited from this in the past decade in Ireland? What has it done for you? Have you had an easy time the past decade? Have the rich gotten off lightly with tax in every aspect whilst the poor where squeezed until they left the country? Do you live in rural Ireland? Do you even have access to internet with more than 1mb of download speed. Why are you paying for both refuse collection and household charge? Why are people in Ireland working a 37 hrs week and getting paid under €6.50 per hour? why are people under 25 working 37hrs a week and getting paid under €4 per hour? Why does our Taoiseach earn more than both the president of America & the prime minister of England?

Perhaps Irish should begin to look at their country in the macro instead of the micro all the time. We then might actually contribute a better place for our nations children to grow up and actually live in someday instead of whoring our resources out to the "big man" with a flashy watch.

anncoates

Expect to see a new IPhone 6.5 Super + rushed out if they end up getting fined.

crannglas

Funny how Irish people will pay this money back also. Should be the people who gave go ahead for tax breaks to pay it. And don't tell me EU UK and USA and other countries didn't benefit from Ireland's laws. Bunch of leeches

crannglas

EmilyHoward wrote: »

The only way to resolve this is through the use of space cash

Space cash? Is there a hidden stash Emily?