“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,” The Associated Press reports. “White House spokesman Josh Earnest says Apple could deduct the payment from those back taxes to the amount owed the United States government. Earnest says that’s not fair to American taxpayers.”
“Earnest says it’s important for the U.S. and Europe to work collaboratively on the goal of preventing the unfair erosion of the tax base rather than taking a unilateral approach,” AP reports. “When asked about the EU’s concerns about an unfair playing field within Europe, Earnest says he won’t discuss internal EU business, but that President Barack Obama is committed to ensuring American companies and taxpayers are treated fairly.”
“Bernie Sanders is applauding the European Union’s ruling that Apple must pay 13 billion euros ($14.5 billion) plus interest in back taxes to Ireland,” AP reports. “The Vermont senator and former Democratic presidential candidate tweeted Tuesday that ‘huge corporations can’t be allowed to use loopholes and tax havens to boost their obscene profits even higher… Apple’s earnings in 2015 were the highest reported of any corporation in history, yet apparently that wasn’t enough.'”
Read more in the full article here.
MacDailyNews Take: High earnings means you should be unfairly taxed? That’s some strange, addled “logic.”
SEE ALSO:
Ireland doesn’t want Apple’s $14.5 billion in so-called back taxes – August 30, 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
Apple CFO Maestri: Despite EU tax ruling, we will continue to invest in Ireland – August 30, 2016
Apple CEO Cook blasts European Commission for ‘ignoring Ireland’s tax laws, upending the international tax system’ – August 30, 2016
European Commission to rule Ireland’s tax arrangement with Apple illegal – August 29, 2016
Ireland prepares for a fight with EU over Apple tax clawback – August 29, 2016
U.S. government warns EU: Do not hit Apple with a massive back tax bill – or else – August 25, 2016
European Commission denies anti-U.S. bias after U.S. Treasury intervention over Apple, Amazon tax probes – August 25, 2016