“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
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