“Donald Trump has set the US on a collision course with Brussels yet again after the White House lodged a formal intervention on behalf of Apple ahead of an upcoming EU court case,” Nick Gutteridge reports for The Express. “According to US Government sources officials in Washington have actively intervened to help the computer giant’s appeal against a massive £11.5 billion fine imposed by eurocrats. ”
“Last year the EU’s competition commissioner, Margrethe Vestager, ruled that Apple had illegally avoided paying its dues in Europe via a sweetheart tax deal with Ireland,” Gutteridge reports. “Apple is appealing the ordered payment, which is backdated all the way to 2003, and now has a powerful ally for its upcoming hearing in the form of Mr Trump’s administration… Obama offered veiled criticism of the ruling at the time, but didn’t bring it up with other G20 leaders saying he would not usually intervene on behalf of a specific company. But according to sources Mr Trump’s administration has now done precisely that, and it is understood officials are backing Apple’s case by seeking a prominent role in the appeal.”
“Apple has claimed that it was a convenient target for the European Union and that the EU competition enforcer used an ‘absurd theory’ in order to come up with a punitive figure,” Gutteridge reports. “The case, which will come before judges at the ECJ’s General Court, is expected to be heard late next year, another source with knowledge of the matter said.”
Read more in the full article here.
MacDailyNews Take: The whole thing is absurd.
Is Ireland its own country or merely a vassal state to a quasi-governmental political confederation that’s already been hit with one very significant defection?
Margrethe Vestager is a fool who’s in way over her head. — MacDailyNews, September 1, 2016
Now, to be fair, this is only because poor Margrethe is an idiot politician. Go back to Denmark, honey, you’re in over your head – unless your agenda is to destroy the EU from the inside out, in which case: Carry on, you’re doing a hell of a job! — MacDailyNews, September 2, 2016
Anyone who decides to set up a business in a European Union member country today is insane. — MacDailyNews, August 30, 2016
SEE ALSO:
EU Commissioner Vestager: Ireland ‘taking too long’ to recover Apple tax – May 19, 2017
EU’s hypocritical Margrethe Vestager going after Apple while backing Madeira tax avoidance scheme – February 14, 2017
Apple has missed the deadline to pay $13.9 billion to Ireland in illegal tax benefits – January 31, 2017
Apple CFO Maestri: What the EC is doing here is a disgrace for European citizens, it should be ashamed’ – December 19, 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
It’s so nice to have a man of action who stands up for American citizens and American companies in the White House again!
Excuse me????!!!!
The US government is spending money on behalf of Apple over an EU tax matter? WTF?!
Corporate welfare at it’s finest. Not one word out of you so called conservatives over “entitlement programs”. Not one!
Your insult, my praise. Thank you.
Trust me. It’s not praise.
I don’t do trust, just like when Trump says “Trust Me” that’s when to run for the hills.
I prefer “Believe Me”. Believe me, it’s a compliment!
My expectation:
Whenever anyone says to me ‘Trust me! Believe Me! I’m serious!’ ad nauseam, they’re saying it because telling the truth is NOT their standard operating procedure.
Obviously, that’s the state of The Trump’s mind. He’s a con-man liar by trade. It’s great when he tells the truth! But it’s not to be expected.
“Victim Gland” lmao…..
Yeah that was pretty funny. Probably hits too close to home for some.
Propaganda.
And yes, both worthless parties foist such crap.
Since AAPL deducts foreign taxes paid as a credit against US tax obligations, this verdict if it stands ultimately takes money from the US treasury, if and when AAPL repatriated overseas profits. Hence Trump is looking out for the US taxpayer.
If that were true, then what is the obstacle of repatriation I keep hearing about? The taxes would already been paid. Elsewhere, but paid. The money is parked offshore and not taxed now, so that does not hold water.
AAPL has an account payable to the USG for taxes on its overseas earnings. If it pays these alleged Irish taxes obligations, the amount paid reduces US tax obligation by a like amount. If Apple gets a “tax holiday” for 10% repatriation tax, but has to pay these back taxes to Ireland, USG would likely get zilch.
But it has not paid that USG tax obligation, that’s why the money’s parked abroad.
More like, if Apple loses this appeal it will have to pay taxes to Ireland and any difference to the US, whereas it has paid a pittance on that money now.
Your comment makes no sense. The US Tax is paid when the money is brought back to the US via transfer to a US Bank account. As long as Apple keeps the money offshore, it can use the US tax obligation as a free loan. Like most international companies, they are lobbying hard for the US government to offer a tax holiday to bring the money back at reduced tax rates. Yet another hit to the individual tax payer in the US.
Tell that to pridon, I agree with you…
They have not paid taxes on the money that the US government is protecting them from the EU about. They owe no US taxes on it while it’s there. There is currently no way for that money to come to the US without being taxed, so it’s not coming to the US.
The less tax a US company pays internationally, the more it owes the US Treasury. In this case, if Apple does not owe, “£11.5 billion ” to Ireland, then that’s tax revenue that the US Treasury can potentially collect, since it won’t be a credit.
So, dear Cynic, your “Corporate welfare at it’s finest. Not one word out of you so called conservatives over “entitlement programs”. Not one!” is the usual rubbish. Why not take your own advice and “not one word out of you”.
So Apple has been paying US tax on EU incomekept outside the US? Yes or no?
President Trump, as usual, WON his last run-in with Brussels over NATO spending.
Amid continued criticism from President Donald Trump, 25 NATO allies plan to increase spending in real terms in 2017. Speaking to reporters Thursday, NATO Secretary General Jens Stoltenberg called the new money “a significant increase.”
Trump has made getting America’s NATO allies to spend more on defense a central theme of his foreign policy, using an appearance at a summit of alliance leaders in May to scold his fellow leaders on the need to boost their defense budgets.
“Twenty-three of the 28 member nations are still not paying what they should be paying and what they are supposed to be paying for their defense. This is not fair to the people and taxpayers of the United States,” Trump said during his speech in Brussels following last month’s summit. Montenegro has since joined NATO, becoming the alliance’s 29th member. – CNN, June 29, 2017
So much winning, but we’re not anywhere near tired of it all, yet!
Once I saw the article title I wanted to see if the Trumptards would sign in and sound off. You guys sure are predictable. Nice diagram F2T2.
Apple doesn’t need Trump. It was a stupid ruling that will lose on its own. Ireland can do what it wants and the EU cannot enforce it. Period.
Trump is doing this simply to show that his incompetent administration can actually do something other than breaking promises.
One can only hope that the Imperial Clown ends up breaking some of his more whacky promises.
I think we can safely say that everyone on this forum (a very diverse bunch we are) agrees that the retroactive part of this the Vestager/EU ruling is total BS. But you have more confidence than I that this ruling will be overturned on appeal. I’m OK with the administration weighing in on this as it sets a horrible precedent.
Keep the insults coming Buster.
It worked SO well for you at the election.
The demise of The Plantation Party is imminent.
The 2018 midterms will be a bloodbath.
so, stay woke, muh-fuh’s.
My pleasure. BTW, I am not American. Chances are your mentally unstable president won’t win another if he is not impeached beforehand.
Actually, it’s the EU’s contention that Ireland cannot give individual corporations favorable treatment, thus creating favor for Ireland over other EU nations, if I’m not mistaken.
I agree that Ireland broke any rules, and Apple shrewdly took advantage of it. Ireland should pay any fines, they transgressed.
A significant number of Capitalist anarchists, AKA “free enterprisers,” love that Trump is not behaving like a nation’s statesman. A statesman should act on a policy that produces the greater good, helps the greater number of people. The Apple issue is not one such.
So I think that Trump is in error to stump for a single entity even though it’s my beloved Apple.
Who isn’t the chump on a collision course would be a much shorter list.
I can see the defense now, the chump will probably use a barrage of infantile tweets like “Margrethe Vestager is a fool who’s in way over her head.” and “poor Margrethe is an idiot politician”.
Oh, you give the Imperial Clown too much credit. I foresee baser and raunchier tweet than that. Go low. Real low.
President Trump is a New Yorker. He plays hardball. He’s not a pansy like Tim Cook and the rest of the liberal Democrat party and the clueless, self-destroying, terminally-biased mainstream media.
Then your interpretation of hardball differs sharply from mine. All I see is a lack of sufficient rhetorical skills and knowledge to fire back effectively with a meaningful policy rebuttal. It’s a weak response not a strong one.
Well I’m just providing an appetizer, I trust to chump to be able to go low, so low all the way down to rock bottom.
Today, Our Beloved President visits Poland, he will be received as a champion from a nation that understands the dangers of Islamic invasion and has, to the chagrin of the EU, managed to keep their borders closed to this atrocity of sub-human filth…subsequently, Poland has had no Islamic terrorist attacks.
Would be cool if Lech Walesa is at the podium with him.
NEW: Pres. Trump donates first quarter salary to restoration of Antietam National Battlefield, Interior Dept. says.
Funny, I thought he had returned his salary. Will he donate the money the Secret Service paid for renting a floor in Trump Towers while they looked after his wife?
When it comes to security, every President enjoys executive priviledge. The Secret Service agents are always available and on call and are simply changing locations based upon need at the President’s behest.
In other words, they didn’t just go out and hire a bunch of rookies to take care of his wife.
Would you rather have Melania Trump and her son kidnapped, killed or used as leverage to justify your premise?
Eurocracy! The case, which will come before judges at the ECJ’s General Court, is expected to be heard late next year
That’s late 2018. 💤💤💤
Do you think Margrethe Vestager will complain that the General Court isn’t going fast enough too?
I imagine it will give her more time to vent steam on the subject in an attempt to keep it hot.
🌬🌬🌬