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Apple ordered to pay Ireland 13 billion Euros but

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  1. #1

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    Apple ordered to pay Ireland 13 billion Euros but

    Ireland is appealing the judgement!!!!

    https://www.theguardian.com/business...land-state-aid


  2. #2

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    Still small change for a company worth roughly $545 Billion. Shares down less than 2% pre mkt.

    Would love to be rich enough to get a tax bill 100th of that!


  3. #3

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    The US is apparently crying foul about this, as they claim that the taxes are owned in the US.

    What was the term used - double dutch irish sandwich? for these types of tax schemes?


  4. #4

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    Quote Originally Posted by shri:
    The US is apparently crying foul about this, as they claim that the taxes are owned in the US.

    What was the term used - double dutch irish sandwich? for these types of tax schemes?
    It really is a shambles. Using tax loopholes as a competitive advantage for larger companies whilst smaller companies pay their full share. I guess Apple will just up-sticks and move to the next soft country. Given the tiny ta take Ireland are getting from them and the negative publicity they should let them go and take the $13B (enough to cover public health costs for a year)

  5. #5

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    So, 12,5% coroporate tax seems to be still way too much for some companies?

    Apple might pull out of Ireland if they have to actually pay the lowest corporate tax rate in the EU. Resulting in a loss of 5.000 jobs. Ireland says they dont want the money! How crazy is that? It shows how corrupt or at the best susceptible to blackmail our governments have become.

    Still...people will go on arguing that lowering the tax rates creates jobs.

    How is it not possible to make a system where taxes are paid where profits are made?


  6. #6

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    Quote Originally Posted by Nep:
    So, 12,5% coroporate tax seems to be still way too much for some companies?

    Apple might pull out of Ireland if they have to actually pay the lowest corporate tax rate in the EU. Resulting in a loss of 5.000 jobs. Ireland says they dont want the money! How crazy is that? It shows how corrupt or at the best susceptible to blackmail our governments have become.

    Still...people will go on arguing that lowering the tax rates creates jobs.

    How is it not possible to make a system where taxes are paid where profits are made?
    Profits Tax should probably be abolished and replaced with VAT and land taxes plus a few sin taxes.
    Nep likes this.

  7. #7

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    Quote Originally Posted by East_coast:
    Profits Tax should probably be abolished and replaced with VAT and land taxes plus a few sin taxes.
    Absolutely!

    They make it sound absolutely impossible and complicated, but if you want to install at least a resemblance of fairness and avoid even bigger social problems they have to start taxing these antisocial dicks at some point.

    I got a buddy from university working for one of the big four "accountants".
    They are worse than the worst bankers in my opinion!

  8. #8

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    Original Post Deleted
    agree 100%

    they'll introduce it as an insignificant, selling it as luxury tax set at only 2%, then in the following years it is to easy to increase the rate, they cannot resist the temptation to slightly increase the rate by only 0.5% or 1%, then increase coverage......
    TheBrit likes this.

  9. #9

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    Quote Originally Posted by JAherbert:
    agree 100%

    they'll introduce it as an insignificant, selling it as luxury tax set at only 2%, then in the following years it is to easy to increase the rate, they cannot resist the temptation to slightly increase the rate by only 0.5% or 1%, then increase coverage......

    Coverage should near 100% but exclude primary residence, food, children's clothes, school books etc. There are plenty of ways to make other taxes more progressive to have a net neutral impact on the poor e.g. Higher users of XXXX (say electricity) pay higher rates of tax the more they use enabling rebates for people who use minimal amounts. Business demonises VAT with scare stories of it hurting the poor as it is a very difficult tax avoid. The tax services industry don't like it as they are not needed to avoid it.

    VAT should never be seen in isolation but as a package of tax measures that are designed to ensure a fairer system. Currently with a focus on profits and land the ability of the affluent to avoid tax discriminates against the poor far more than it should.

    VAT will come to Hong Kong as it is assimilated into China. It would be better to be on the front foot andd design a good system like New Zealan than a bad system like China.

  10. #10

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    If the US wants to get that money back they should:
    1. abolish corporate profits taxes. In any case these taxes is a disincentive to the creation of profits.
    2. increase taxes on dividends and capital gains

    The money gets repatriated to the US and most likely reinvested rather than paid out. And it ain't regressive.

    Last edited by greenmark; 01-09-2016 at 08:57 PM. Reason: missed out a bit
    East_coast likes this.