[Reuters] EU demands Apple pay Ireland up to 13 billion euros in tax - Overclock.net

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post #1 of 36 Old 08-30-2016, 04:41 AM - Thread Starter
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EU antitrust regulators ordered Apple (AAPL.O) on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid.

The massive sum, 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the EU executive said in a statement, if other countries sought more tax themselves from the U.S. tech giant.

Apple, which with Ireland said it will appeal the decision, paid tax rates on European profits on sales of its iPhone and other devices and services of between just 0.005 percent in 2014 and 1 percent in 2003, the Commission said.

"Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years," said Competition Commission Margrethe Vestager, whose crackdown on mainly U.S. multinationals has angered Washington which accuses Brussels of protectionism.

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post #2 of 36 Old 08-30-2016, 05:04 AM
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While the irish government is the biggest benefactor of this decision (since the EU regulators claim that apple should pay the irish government), they are also the ones who are going to lose the most out of it, as other companies beside apple will get out of there.
Google, microsoft, even nvidia and AMD, are all on their road to lose heaps of money if this is being settled, as the EU regulators will go after them next.

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post #3 of 36 Old 08-30-2016, 05:19 AM
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Originally Posted by Defoler View Post

While the irish government is the biggest benefactor of this decision (since the EU regulators claim that apple should pay the irish government), they are also the ones who are going to lose the most out of it, as other companies beside apple will get out of there.
Google, microsoft, even nvidia and AMD, are all on their road to lose heaps of money if this is being settled, as the EU regulators will go after them next.

Good riddance then. =\

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post #4 of 36 Old 08-30-2016, 05:22 AM
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post #5 of 36 Old 08-30-2016, 05:49 AM
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Originally Posted by Defoler View Post

While the irish government is the biggest benefactor of this decision (since the EU regulators claim that apple should pay the irish government), they are also the ones who are going to lose the most out of it, as other companies beside apple will get out of there.
Google, microsoft, even nvidia and AMD, are all on their road to lose heaps of money if this is being settled, as the EU regulators will go after them next.

i dont buy this common scare tactic passed around when people want to prosecute corps for their wrong-doings or unethical activity.....it always gets brought up and in this case they should have never "been there" in the first place so its a non issue.
corps never flee like people say they will if they have a reason to exist in a location....they simply like to try and scare people away from their money.

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post #6 of 36 Old 08-30-2016, 05:50 AM
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Originally Posted by Defoler View Post

While the irish government is the biggest benefactor of this decision (since the EU regulators claim that apple should pay the irish government), they are also the ones who are going to lose the most out of it, as other companies beside apple will get out of there.
Google, microsoft, even nvidia and AMD, are all on their road to lose heaps of money if this is being settled, as the EU regulators will go after them next.

While I do agree that EU is generally getting out of hand and messing with matters that are of the own country government responsability. It should be noted that, without any knowledge of any law... this is absolutely unfair. If Apple has lower tax, Samsung, LG, Google, Microsoft, Nokia everyone should have lower tax.
The average joe that has a small business selling oranges and pears. He should pay even less tax than what Apple pays % wise.

I am all for reducing tax to boost productivity and the economy, but it should be for everyone. Not the rich few. Worst thing about this is, the prices on iPhones are exactly the same. Only thing happening is Apple makes more money, for what? To be sure they employ people? Please... They will employ people regardless because they will make profit regardless.

iPhone 6S starts from 759 euros either in Ireland or Portugal which is where I live and our taxes are quite high.
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post #7 of 36 Old 08-30-2016, 06:03 AM
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Should be noted that the EU commission is actually after Ireland for giving illegal tax benefits to Apple. Apple didn't actually do anything wrong. It's now the Irish PM mr. Noonan fighting the EU courts.

Basically Ireland did what every small country does, it turned itself into a place with low corporate taxes so that companies would move their headquarters (piece of paper not actual buildings) to there. Luxemburg, Isle of Man (UK), Puerto Rico (US), Vatican, etc they all do it in one form or the other (low income/corporate/inher taxes). Difference is that Ireland is actually part of the EU (member state), and they simply do not have the power to lowball other EU countries and especially grant specific deals to specific companies. Please keep in mind that what Ireland is doing might be beneficial to them, but very dangerous to everyone else as it encourages a "race to the bottom" as in nations competing to give corporation the better deal.

I think this is a good thing, I just wish we could declare open economic warfare against all tax heavens, they are a cancer to real economies that actually produce something.
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post #8 of 36 Old 08-30-2016, 06:48 AM
 
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Originally Posted by Jupitel View Post

Should be noted that the EU commission is actually after Ireland for giving illegal tax benefits to Apple. Apple didn't actually do anything wrong. It's now the Irish PM mr. Noonan fighting the EU courts.

Basically Ireland did what every small country does, it turned itself into a place with low corporate taxes so that companies would move their headquarters (piece of paper not actual buildings) to there. Luxemburg, Isle of Man (UK), Puerto Rico (US), Vatican, etc they all do it in one form or the other (low income/corporate/inher taxes). Difference is that Ireland is actually part of the EU (member state), and they simply do not have the power to lowball other EU countries and especially grant specific deals to specific companies. Please keep in mind that what Ireland is doing might be beneficial to them, but very dangerous to everyone else as it encourages a "race to the bottom" as in nations competing to give corporation the better deal.

I think this is a good thing, I just wish we could declare open economic warfare against all tax heavens, they are a cancer to real economies that actually produce something.

You are accusing the entire country when individual citizens didn't make these decisions.
As Ireland is a member of the EU the Commission is allowed to investigate these matters and take action as they see fit.
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post #9 of 36 Old 08-30-2016, 06:50 AM
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Originally Posted by tpi2007 View Post

Source.

EU demands CONSUMERS pay 13 billion euro in tax through higher Apple prices.

FTFY rolleyes.gif

Corporate taxes are just more convoluted Consumer taxes, except it make the dumb consumers(those who didn't sit through MicroEcon 101 in college) feel good about themselves as they perceive the rich companies are getting taxed when in the end it is they themselves who are paying the bill.

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post #10 of 36 Old 08-30-2016, 06:56 AM
 
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So if Ireland weren't in the EU this wouldn't be a problem? thinking.gif

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