Tax Stories September 26
Tax Stories September 12
While Ireland may not want the €13B ($15B) the EU says Apple owes in underpaid tax, it seems other European countries do. Germany’s DW reports from a summit of European finance ministers that at least four countries have ‘expressed an interest’ in claiming their share.
Dutch Finance Minister Jeroen Dijsselbloem appeared to be first in line, warning Apple on Saturday to “get ready” to pay up. His comment came after a two-day meeting of his EU counterparts in the Slovak capital, Bratislava […]
Other EU countries, including Austria, Italy and France, are following the case closely, and expressing interest in a possible payout, according to Austria’s Finance Minister Hans Joerg Schelling, who spoke on the sidelines of the two-day summit.
There is already precedent for such claims …
Tax Stories September 5
There’s no sign of let-up in the war of words over the European Commission’s demand that Apple should pay an extra €13B ($15B) in taxes on its European sales. After Tim Cook last week described the tax ruling as ‘political crap,’ the EC has hit back with some strong words of its own.
The WSJ quotes Eurofinance head Jeroen Dijsselbloem stating that Apple had failed to understand the public mood in Europe …
Tax Stories September 1
Earlier in the week, Apple was hit by a European Commission ruling to the tune of 13 billion euros in back taxes to Ireland. Apple immediately refuted any wrongdoing and has already said the Irish government will appeal. Apple CEO Tim Cook has continued this tirade today in the Irish press, with a newspaper column in the Independent and a rare radio interview (with RTE’s Paschal Sheehy).
Cook does not hold back on his language. He says the 0.005% effective tax rate bandied about by the Commission is false and “total political crap”. He says Apple actually paid $400 million to Ireland in the same year and believes it was the largest taxpayer in the country that year.
Tax Stories August 31
After it was revealed that Apple paid an effective tax rate on its European profits of just 0.005% in 2014, a local tax and advisory firm has said that while other multinational companies had similar arrangements with Ireland, Apple’s deal was ‘the most brazen.’ The comment was made by Aisling Donohue, a partner at tax and business advisory firm MGPartners, reports Bloomberg.
The European Commission yesterday ordered the Irish government to recover €13B ($15B) in taxation from Apple after it was ruled to have offered the company illegal tax breaks. Apple is appealing the ruling.
Netflix says that it believes that the type of tax avoidance measures employed by Apple and other U.S. tech companies are ‘unsustainable’ …
Tax Stories June 27
With a long-running EU investigation into the legality of Apple’s tax arrangements in Europe still showing no signs of reaching a conclusion, the size of last year’s UK tax bill isn’t likely to help its cause. Apple’s latest accounts show that it paid just £12.9M ($17M) in UK corporation tax despite making an estimated £2B ($2.6B) profit in the country.
As the Mail Online notes, this is the equivalent of just two hours’ profits on its global sales …