Blog Archive

Tuesday 30 August 2016

Apple Ordered to pay €13billion taxes to Ireland

                           Image result for apple company building

US technology company Apple has  been ordered to pay up to €13billion in back taxes to Ireland.

Apple faces the record bill after the European Commission (EC) ruled that a special scheme to route profits through Ireland was illegal state aid.

The tech giant's tax arrangements enabled it to pay a tax rate of as little as 0.005% on its European profits in 2014, according to the probe.
That is just €50 (£43) in taxes on every €1m (£850m) of profit.
Ireland's finance minister Michael Noonan said he disagreed "profoundly" with the decision and would seek Cabinet approval for an appeal.
The sum to be paid by Apple is 40 times bigger than any previous demand by the EC in such a case.

  Image result for apple company building

Commissioner Margrethe Vestager said: "Member states cannot give tax benefits to selected companies, this is illegal under EU state aid rules."

"The Commission's investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years."

Apple also said it was confident of winning an appeal and that the ruling would have a "profound and harmful effect on investment and job creation in Europe".

Online retailer Amazon and fast food giant McDonald's face probes over their tax arrangements in Luxembourg while coffee chain Starbucks has been ordered to pay up to €30m (£26m) in the Netherlands.According to Swiss report.

1 comment:

BIG DOG said...

You have done a great job on this article. It’s very readable and highly intelligent. You have even managed to make it understandable and easy to read. You have some real writing talent. Thank you. Tax resolutions

Use HotelCombine online to search for your favourite hotel or holiday inn around the world

Take a break from work and use  HotelsCombined to search for your favourite hotel or holiday inn around the world. All you need to do i...