“Apple will launch a legal challenge this week to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty, senior executives said,” Foo Yun Chee reports for Reuters.
“Apple’s combative stand underlines its anger with the European Commission, which said on Aug. 30 the company’s Irish tax deal was illegal state aid and ordered it to repay up to 13 billion euros ($13.8 billion) to Ireland, where Apple has its European headquarters,” Chee reports. “European Competition Commissioner Margrethe Vestager, a former Danish economy minister, said Apple’s Irish tax bill implied a tax rate of 0.005 percent in 2014.”
“Apple intends to lodge an appeal against the Commission’s ruling at Europe’s second highest court this week, its General Counsel Bruce Sewell and Chief Financial Officer Luca Maestri told Reuters in an interview at the company’s global headquarters in Cupertino,” Chee reports. “The iPhone and iPad maker was singled out because of its success, Sewell said. ‘Apple is not an outlier in any sense that matters to the law. Apple is a convenient target because it generates lots of headlines. It allows the commissioner to become Dane of the year for 2016,’ he said, referring to the title accorded by Danish newspaper Berlingske last month.”
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MacDailyNews Take: The EU’s antitrust commissioner, Margrethe Vestager, is a fool who’s in over her head.
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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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