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Hey Apple....How do you Like Progressive Europe now?

NACl H2O LuvrNACl H2O Luvr Posts: 12,389 AG
Interesting Times......


Europe hits Apple with $14.6 billion tax bill


The tax ruling is by far the biggest the European Union has ever made regarding a single company, and it could spark a huge transatlantic row over how Europe treats big U.S. companies.

Apple shares fell almost 3% in premarket trading. The company will appeal the decision. It said the ruling upended the international tax system and would damage jobs and investment in Europe. Ireland also intends to appeal.

The Commission said the Irish government had granted illegal state aid to Apple (AAPL, Tech30) by helping the tech giant to artificially lower its tax bill for more than 20 years.

"Member States cannot give tax benefits to selected companies -- this is illegal under EU state aid rules," said Commissioner Margrethe Vestager, Europe's top antitrust official.

Apple paid tax at 1%, or less, on profits attributed to its subsidiaries in Ireland, well below the 35% top rate in the United States and even well below Ireland's 12.5% rate.


Taken from and continue reading here: http://money.cnn.com/2016/08/30/technology/apple-tax-eu-us-ireland/index.html

Replies

  • phlatsphilphlatsphil Posts: 14,632 AG
    Seems like people everywhere are sick and tired of tax breaks for companies.
  • NACl H2O LuvrNACl H2O Luvr Posts: 12,389 AG
    phlatsphil wrote: »
    Seems like people everywhere are sick and tired of tax breaks for companies.


    Yep. Look at the line below from a little further down in the article:



    The bill for tax benefits, plus interest, covers 2003 to 2014. Apple has more than $231 billion in cash on its balance sheet to cushion the blow.


    :hairraiser
  • theglide96theglide96 Posts: 767 Officer
    Yep. Look at the line below from a little further down in the article:



    The bill for tax benefits, plus interest, covers 2003 to 2014. Apple has more than $231 billion in cash on its balance sheet to cushion the blow.


    :hairraiser


    Is it just me or does it seem impossible to even wrap your head around that large a number...in cash? Wow

    Ehh..we didn't need any of those tax revenues here...after-all Apple consumer's aren't taxed either...so that's cool..
  • NACl H2O LuvrNACl H2O Luvr Posts: 12,389 AG
    theglide96 wrote: »
    Is it just me or does it seem impossible to even wrap your head around that large a number...in cash? Wow

    Ehh..we didn't need any of those tax revenues here...after-all Apple consumer's aren't taxed either...so that's cool..



    What gets me, is the Irish saying they are going to appeal the decision.... serious ****?? Some really dumb folks out there.

    Ireland said it will appeal the decision, saying Apple paid what it owed. The country has one of the lowest corporate tax rates in Europe, which makes it an attractive place to invest for global companies.



    Apple paid tax at 1%, or less, on profits attributed to its subsidiaries in Ireland,
  • Big BatteryBig Battery Posts: 20,592 AG
    Maybe Ireland will now reconsider Brexit for themselves.
  • MelbourneMarkMelbourneMark Posts: 2,188 Captain
    It would be great to lower our corporate tax rate to 0% and attract apple and thousands of other companies back to the US. Imagine all the new jobs (whom would pay taxes).
  • CageyCagey Central FloridaPosts: 917 Officer
    Maybe Ireland will now reconsider Brexit for themselves.

    This.

    F the EU. Time for secession. End the EU!

    Nations should control their own destinies, not outsiders. We have the same problem here with the fed and UN.
  • Mister-JrMister-Jr Posts: 27,750 AG
    It would be great to lower our corporate tax rate to 0% and attract apple and thousands of other companies back to the US. Imagine all the new jobs (whom would pay taxes).

    Tax individuals, not corporations.
    Vote for the other candidate
  • gregglgreggl Posts: 21,594 Officer
    too big to fail
  • NACl H2O LuvrNACl H2O Luvr Posts: 12,389 AG
    It would be great to lower our corporate tax rate to 0% and attract apple and thousands of other companies back to the US. Imagine all the new jobs (whom would pay taxes).

    So a company with $231 Billion of cash on hand......has only 5500 employees in Ireland. Interesting. See Below


    http://www.apple.com/ie/job-creation/


    5500 employees. let's assume they get taxed an average $25 000 yearly. That's about $138 Million dollars in taxes collected annually......hmmmm Your math is not looking so good.
  • Big BatteryBig Battery Posts: 20,592 AG
    Ireland knows that if forced to pay taxes to Ireland, APPLE will leave.
  • MelbourneMarkMelbourneMark Posts: 2,188 Captain
    So a company with $231 Billion of cash on hand......has only 5500 employees in Ireland. Interesting. See Below


    http://www.apple.com/ie/job-creation/


    5500 employees. let's assume they get taxed an average $25 000 yearly. That's about $138 Million dollars in taxes collected annually......hmmmm Your math is not looking so good.

    That's apples money. Not yours, Ireland's, or our governments. Your philosophy of taxing companies has scared them out of the US for decades. Any logical person understands that any corporate tax is just passed on to the consumers. So now, Apple left the US, took their jobs to another country, and consumers(many in the US) are still paying for their smaller-corporate tax in Ireland.

    This country could be much better off if we had companies flocking back here with jobs. The wealth created by new jobs would supply lots of new taxes.
  • gregglgreggl Posts: 21,594 Officer
    couldn't have happened to nicer folks.
  • evernicevernic Posts: 797 Officer
    Interesting Times......


    Europe hits Apple with $14.6 billion tax bill


    The tax ruling is by far the biggest the European Union has ever made regarding a single company, and it could spark a huge transatlantic row over how Europe treats big U.S. companies.

    Apple shares fell almost 3% in premarket trading. The company will appeal the decision. It said the ruling upended the international tax system and would damage jobs and investment in Europe. Ireland also intends to appeal.

    The Commission said the Irish government had granted illegal state aid to Apple (AAPL, Tech30) by helping the tech giant to artificially lower its tax bill for more than 20 years.

    "Member States cannot give tax benefits to selected companies -- this is illegal under EU state aid rules," said Commissioner Margrethe Vestager, Europe's top antitrust official.

    Apple paid tax at 1%, or less, on profits attributed to its subsidiaries in Ireland, well below the 35% top rate in the United States and even well below Ireland's 12.5% rate.


    Taken from and continue reading here: http://money.cnn.com/2016/08/30/technology/apple-tax-eu-us-ireland/index.html

    I'm sure bill-ary can help them with this for a few hundred million...$$$...to tha "foundation":rotflmao
    2802 Trophy WA, 2x225Merc EFI's...sunk unamed storm 12-09looking for boat #10
  • gregglgreggl Posts: 21,594 Officer
    this is how they fund their robot socialism.
  • DrSnookDrSnook Posts: 293 Deckhand
    That's apples money. Not yours, Ireland's, or our governments. Your philosophy of taxing companies has scared them out of the US for decades. Any logical person understands that any corporate tax is just passed on to the consumers. So now, Apple left the US, took their jobs to another country, and consumers(many in the US) are still paying for their smaller-corporate tax in Ireland.

    This country could be much better off if we had companies flocking back here with jobs. The wealth created by new jobs would supply lots of new taxes.

    Not sure why this is so hard for so many to understand.
  • gregglgreggl Posts: 21,594 Officer
    Apple needs to be broken up.
  • Big BatteryBig Battery Posts: 20,592 AG
    greggl wrote: »
    this is how they fund their robot socialism.

    lol... good lord.
  • gregglgreggl Posts: 21,594 Officer
    lol... good lord.

    the EU utopian plans are butting up against a different utopian faction in Ireland.

    The Apple/Ireland thing is an evolution of some old relationships. This is 1984ish. There was an animator strike in '82. :

    "Sullivan drew plans to move the majority of the studio's operations to Ireland to take advantage of a scheme set up by the Industrial Development Authority encouraging filmmakers to invest in the country by offering grants, tax benefits and lower operating costs.[15] Difficulties with American trade unions that arose when Bluth offered his employees wages below union rates during the financially tense production of An American Tail may also have influenced the decision to relocate.[16] The IDA offered Sullivan Bluth Studios the largest grant in the country's history to relocate to Dublin, in return for a 5% government ownership of the studio.[17] This, along with Sullivan's own investment, funded the foundation of a large and sophisticated new animation studio near Dublin's Phoenix Park. The studio opened with a staff of 85, mostly handling the ink-and-paint process, but expanded to employ over 300 people, including some 100 staff relocated from the California studio, and to cover all aspects of the animation process and even film processing. To build up this workforce, the studio brought young Irish people to the USA studio to train, and Bluth helped to set up an animation course at the nearby Ballyfermot Senior College.[15] Despite the majority of operations eventually being moved to the Dublin studio, an executive office was retained in Burbank, California to maintain ties with US producers and distributors.

    During the move to Ireland, production had started on the studio's second feature, The Land Before Time. Again, Amblin and Spielberg backed the production, with additional input from friend of Spielberg and Star Wars creator George Lucas"


    https://en.wikipedia.org/wiki/Sullivan_Bluth_Studios
  • mustang190mustang190 Posts: 10,104 AG
    First of all Apple does not have all of that money in "Cash". It is invested in a number of things which benefit a lot of people, mostly small investors with 401's and IRA's.
    As with all socialist scumbags the old saying holds so true!!...."Socialism works great until you run out of other peoples money!!"
  • gregglgreggl Posts: 21,594 Officer
    mustang190 wrote: »
    First of all Apple does not have all of that money in "Cash". It is invested in a number of things which benefit a lot of people, mostly small investors with 401's and IRA's.
    As with all socialist scumbags the old saying holds so true!!...."Socialism works great until you run out of other peoples money!!"

    capitalism loves communist labor.
  • mustang190mustang190 Posts: 10,104 AG
    greggl wrote: »
    capitalism loves communist labor.

    Are you still on your lunch break at Home Depot?
  • gregglgreggl Posts: 21,594 Officer
    mustang190 wrote: »
    Are you still on your lunch break at Home Depot?

    my wife was there. not anymore.

    it was amazing to see what happens when unions start being talked up in one of those places :)
  • frankiezfrankiez Posts: 396 Deckhand
    I worked at a Home Depot in the metro-Detroit area. Some people started talking about trying to unionize and it was even getting to the point where they were talking about possible dates to have a store vote.

    HD corporate immediately got involved supposedly and put the word out that it would never get that far and that people would be systematically terminated if they were found to be pro-union.
  • gregglgreggl Posts: 21,594 Officer
    frankiez wrote: »
    I worked at a Home Depot in the metro-Detroit area. Some people started talking about trying to unionize and it was even getting to the point where they were talking about possible dates to have a store vote.

    HD corporate immediately got involved supposedly and put the word out that it would never get that far and that people would be systematically terminated if they were found to be pro-union.

    She was at $17/hr. Started talking about organizing and the sharing of wage information.
  • sjm1582002sjm1582002 Posts: 4,364 Captain
    Apple is destined to become another Atari or ****.

    Google will become another AOL.

    Best get while the getting is good.
  • gregglgreggl Posts: 21,594 Officer
    "The White House says the Obama administration is concerned that American taxpayers will ultimately bear the brunt of the European Union's decision requiring Apple to pay billions of dollars in back taxes."

    http://abcnews.go.com/Technology/wireStory/latest-ireland-appeal-eu-ruling-apple-taxes-41738502
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