EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidance

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  • Rum_Pirate
    Banned
    • Apr 2007
    • 22871

    EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidance

    The US Treasury has also warned the EU not to pursue American companies over tax avoidance - but McDonald's, Google and Amazon could be next.

    Apple holds Europe to ransom: Tech giant threatens to cut jobs in EU after Brussels orders it to pay back £11BILLION in tax over 'illegal' sweetheart deal with Irish government


    The European Commission's three-year investigation into Apple's sweetheart deal with Ireland has found it amounted to illegal state aid. In a damning report published today it emerged the tech giant paid as little as 0.005 per cent tax by funnelling its non-US profits through a 'so-called headquarters' in Ireland with no staff or premises then on to its $178billion (£120bn) offshore account (top right). The giant tax bill, which could reach £16billion ($21 billion) because of interest, will not be difficult for the company to pay because it made $53.4billion (£35billion) last year (bottom right) - the biggest profit in corporate history. But Apple will appeal and the tech giant's CEO Tim Cook, who previously called the probe 'political c**p', is threatening EU job losses. The US Treasury has also warned the EU not to pursue American companies over tax avoidance - but McDonald's, Google and Amazon could be next. Ireland has said it doesn't want Apple's money even though it is equivalent to £2,400 for each of its 4.5million residents and would cover the costs of its national health service for a year. http://www.dailymail.co.uk/news/article-3764393/Apple-faces-bill-billions-Irish-tax-affairs-EU-rules-company-effectively-received-state-aid.html
    Brexit Britain could become home to giant global firms which fear huge EU tax demands after Apple ruling


    Experts believe that a British economy free from Brussels could be able to attract companies such as Apple, run by Tim Cook, pictured,a with its own tax deals. http://www.dailymail.co.uk/news/article-3765272/Brexit-Britain-home-giant-global-firms-fear-huge-EU-tax-demands-Apple-ruling.html
    Ireland would get back in the BLACK with £2,400 for every man, woman and child in the country if Irish government accepted Apple's money


    Apple has had a base in Ireland since 1980, long before it became the global brand it is today - and it employs around 5,500 people in the country, with its biggest operations in Cork.

    Who's next in the firing line? Google, Amazon and Starbucks are among the firms facing more scrutiny after the multi-billion pound Apple tax ruling


    The massive £11billion bill faced by the tech giant could set the scene for a titanic tax avoidance battle involving multinationals, governments and the EU commission. http://www.dailymail.co.uk/news/article-3765367/Who-s-firing-line-Google-Amazon-Starbucks-firms-facing-scrutiny-multi-billion-pound-Apple-tax-ruling.html
    I look forward to see what unfolds.
  • Peerie Maa
    Old Grey Inquisitive One
    • Oct 2008
    • 62557

    #2
    Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

    Going to be interesting. The EU has this level playing field thing, so fiddling your taxes and paying 0.005% on its 2014 profits in Europe (as against 12.5% that they should have paid) is as popular as a fart in a space suit.

    Ireland should recover up to €13bn (£11bn) from Apple in back taxes, the European Commission rules, but both parties say they will appeal.
    It really is quite difficult to build an ugly wooden boat.

    The power of the web: Anyone can post anything on the web
    The weakness of the web: Anyone can post anything on the web.

    Comment

    • skuthorp
      Senior Member
      • Jan 2002
      • 73718

      #3
      Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

      "The US Treasury has also warned the EU not to pursue American companies over tax avoidance"

      Warned eh? Warned…………. Whats on the program, a repeat of the regime change activities in Central America in support of US pineapple companies?

      Comment

      • oznabrag
        Historical Illiterate
        • Nov 2008
        • 40930

        #4
        Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

        Originally posted by skuthorp
        "The US Treasury has also warned the EU not to pursue American companies over tax avoidance"

        Warned eh? Warned…………. Whats on the program, a repeat of the regime change activities in Central America in support of US pineapple companies?
        Trump.
        Rattling the teacups.

        Comment

        • Peerie Maa
          Old Grey Inquisitive One
          • Oct 2008
          • 62557

          #5
          Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

          Originally posted by oznabrag
          Trump.
          Trump

          What does Trump mean?
          Trump
          Fart
          Example

          "He trumped in class this morning."

          You channelling Pless?
          It really is quite difficult to build an ugly wooden boat.

          The power of the web: Anyone can post anything on the web
          The weakness of the web: Anyone can post anything on the web.

          Comment

          • Daniel Noyes
            Banned
            • Jan 2007
            • 8532

            #6
            Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

            Now we know where Apple's BIG pile of Cash Reserves came from... Deliquient on taxes and Slave Labor in China rather than making I Phones in the USA... Scum Bags.

            Comment

            • skuthorp
              Senior Member
              • Jan 2002
              • 73718

              #7
              Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

              And it seems that the Irish Govt. doesn't want to pursue Apple because of the risk of the loss of jobs…………
              Not so different really.

              Comment

              • oznabrag
                Historical Illiterate
                • Nov 2008
                • 40930

                #8
                Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

                Originally posted by Peerie Maa
                You channelling Pless?
                .
                Rattling the teacups.

                Comment

                • Daniel Noyes
                  Banned
                  • Jan 2007
                  • 8532

                  #9
                  Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

                  Originally posted by Daniel Noyes
                  Now we know where Apple's BIG pile of Cash Reserves came from... Deliquient on taxes and Slave Labor in China rather than making I Phones in the USA... Scum Bags.
                  I'm Cheering for the EU in this battle!

                  Comment

                  • Old Dryfoot
                    That Richard Guy
                    • May 2010
                    • 18548

                    #10
                    Re: EU grabbing taxes-US Treasury warns the EU not to pursue US Co's over tax avoidan

                    $50 in taxes on every $1,000,000

                    A pretty good deal for Apple. Good luck in court. . .

                    Comment

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