“The U.S. Treasury Department said Tuesday it was disappointed with the European Commission seeking to force Apple Inc. to repay tax breaks given by Ireland,” Greg Robb reports for MarketWatch.
A spokesperson for the department said… “We believe that retroactive tax assessments by the Commission are unfair, contrary to well-established legal principles and call into question the tax rules of individual Member States,'” Robb reports. “The case could undermine ‘the important spirit of economic partnership between the U.S. and the EU,’ the spokesperson added.”
Robb reports, “Apple and Ireland both said they will appeal the ruling.”
Read more in the full article here.
MacDailyNews Take: Unfair, to say the least.
Anyone who decides to set up a business in a European Union member country today is insane.
Newsflash: Corporations don’t pay taxes, you do. “Corporate taxes” are simply passed along to the consumer. It’s how the government sneakily double-taxes its citizens. You’re taxed on your income and then again on what’s left via higher prices across the board. — MacDailyNews Take, December 4, 2015
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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
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