“A multi-billion euro back tax bill handed to Apple by the European Commission should not be seen as a precedent for future tax cases as it was based on state aid rather than tax law, the OECD official spearheading global tax reform said on Monday,” Conor Humphries reports for Reuters.
“Pascal Saint-Amans, who is leading the Organisation for Economic Co-operation and Development’s flagship Base Erosion and Profit Shifting (BEPS) project, said that under the new OECD rules, most of the tax from U.S. technology multinationals like Apple should be due in the United States, not Ireland,” Humphries reports. “‘(In) transfer pricing (terms), the bulk of the profit clearly belongs to the United States’ rather than Ireland or any other European country, Saint-Amans told journalists in Dublin.”
Humphries reports, “Saint-Amans said he was hopeful that the Commission would make clear that its rulings did not contradict the BEPS guidelines when it publishes the Apple ruling in full.”
Read more in the full article here.
MacDailyNews Take: Sounds like someone’s worried that people might start thinking that…
Anyone who decides to set up a business in a European Union member country today is insane. — MacDailyNews, August 30, 2016
SEE ALSO:
Ireland’s Finance Minister Noonan: Apple tax appeal may take four years, maybe more – September 23, 2016
Apple’s EU tax nemesis Margrethe Vestager takes aim at other U.S. companies’ offshore profits – September 19, 2016
The ‘Brexit-Apple’ connection: What in the world was Margrethe Vestager thinking? – September 12, 2016
EU ministers line up to take tax bites out of Apple – September 12, 2016
Former EU competition commissioner: Vestager claim that Apple owes back taxes an incorrect use of EU law – September 2, 2016
Irish government to fight EU on Apple tax – September 2, 2016
Treasury accuses EU of trying to steal U.S. tax revenues with Apple decision – September 1, 2016
Irish residents opposed to EU’s tax demand of Apple – September 1, 2016
Apple Inc. pushes back against EU tax grab – September 1, 2016
Apple may repatriate billions of dollars next year after new U.S. President takes office – September 1, 2016
U.S. tax code allows for dramatic retaliation against EU overreach in Apple case – September 1, 2016
Apple CEO Tim Cook on EU tax demand: ‘No one did anything wrong here and Ireland is being picked on… It is total political crap’ – September 1, 2016
U.S. Treasury: The European Commission’s retroactive tax demands on Apple are unfair – August 30, 2016
EU demands Apple pay massive $14.5 billion in taxes plus interest – August 30, 2016
U.S. government warns EU: Do not hit Apple with a massive back tax bill – or else – August 25, 2016
Actually what he says is in direct contradiction with the EU ruling. The EU ruling states that the back taxes are owned to Ireland but other EU countries where Apple does business could ask for their share of those taxes because in their view, taxes are owned where the product is sold. This gentleman says that taxes are owed where the value is generated, in the US, where Apple designs its products. As a result, it seems that this Frenchman doesn’t understand what he is talking about.
It seems that many EU politicians and bureaucrats have many interpretations of what this really means. I suppose this will be good for Apple when they are summoned to court and asked to explain. The principles are simple – everyone ‘must’ pay their legal taxes. Everyone ‘should’ pay their fair taxes. Tax commissions ‘must’ know the tax laws … but they don’t.
Legalese extortion is the nature of all banking cartels, the EU is a banking cartel. Hillary Merkel supports a North American Union, a whöre sister to the EU.
American sovereignty vs globalism.
Trump vs Frump.
Jefferson vs Soros…the Republic hangs in the balances.
“mene mene tekel upharsin.”
botvirnnik, tú asal beag bán
Being an ass doesn’t make a man wrong, only braying without effect
in other words, don’t worry, this is just a once-in-a-lifetime-money-grab. trust me.
A decision of this magnitude not precedent setting? Is he high?
Exactly, they made this a special ruling applicable only to Apple. They smelled money and just could not resist it. But hey, other companies are safe, and need not worry about coming to EU. They want their cake and eat it too.
And I have a bridge to sell you or if you prefer some Arizona seaside real estate.