EU Launches New Power Grab, to Roaring Public Approval

Wolf Street ^ | 06 September 2016 | Don Quijones

[Lorianne]

The Apple Tax is about a lot more than just Apple and the billions of euros in backdated corporation tax it purportedly owes to European governments. It even goes far beyond the question of how — and how much — central authorities should tax recalcitrant multinationals that make billions of dollars in profits on their turf but share few or none of the proceeds.

What is most at stake is the question of who gets to set the fiscal rules in Europe’s foreseeable future. One thing is clear: if Brussels gets its way, it’s not going to be the national government of each member state. And that could be very bad news, at a very bad time, for a number of European economies, in particular Ireland, Luxembourg, and the Netherlands.

“Total Political Crap”

The EU’s Competition Commission slapped Apple with a €13 billion retroactive tax bill. That money is apparently owed to the government of Ireland, its decades-long partner in one of the biggest tax-avoidance schemes of living memory. The Commission argues that the arrangement cooked up between Irish authorities and Apple’s tax lawyers and accountants represented illegal state aid, enabling the U.S. company to get away with paying an effective taxation rate on its European profits as low as 0.005%.

[reg45]

The Brexit supporters have been proven right.

[E. Pluribus Unum]

The only problem with killing the rich and taking their stuff is you only get to do it once.

[Oldexpat]

The EU wants more of the money before Trump gets the tax code changed and they bring home their profits.

[TLI]

since the ruling in question has the full support not only of the governments of both Germany and France but also the overwhelming majority of European citizens, who broadly resent the brazen tax avoidance of multinational corporations, both foreign and home-grown, particularly at a time of rising fiscal pressures and so-called austerity. According to sources in Brussels, European governments lose close to €1 trillion each year in tax revenues as a direct result of fiscal dumping and tax fraud.

"overwhelming majority of European citizens"

Same bunch of parasites that the UK could no longer support, resulting in the Brexit.

Apple supports nearly 18,000 jobs across Ireland, including over 5,000 direct Apple employees.

Trump changes the tax law... Apple pulls the plug... the EU parasites go after the next biggest free lunch provider... they also pack it up.

Then the next one and the next one...

.

[VanDeKoik]

Whatever.

One large multi-national leftist conglomerate is trying to wring money out of another multi-national leftist conglomerate.

[ArcadeQuarters]

In other words, pass the popcorn and enjoy the show.

[Gay State Conservative]

Apart from Germany the EU produces *nothing* that *anyone* wants to buy.So in order to collect desperately needed income they sue successful American companies like Boeing,Microsoft,Apple and Google.

[I want the USA back]

“to Roaring Public Approval”
Because Apple is seen as an American company.

[Brian Griffin]

“The tax systems in Member States also have to be in line with Community State aid rules. According to Article 87, paragraph 1 of the EC Treaty any aid granted by a Member State or through State resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Member States, be incompatible with the common market. State aid rules apply regardless of the form the aid is given in, i.e. any kind of tax relief can constitute State aid if the other criteria are fulfilled.”

http://ec.europa.eu/taxation_customs/business/company-tax/harmful-tax-competition_en

[SuperLuminal]

"Because Apple is seen as an American company.

Clearly being 83 fogs my addled brain, but my definition of "American company" means:

• Manufactures in the United States;
• Pays wages to American workers in the United States; and,
• Pays taxes in United States.

Calling Apple an American company is as valid as calling obamy an American President...