“Apple has not fully paid the 13 billion euros ($13.9 billion) it owes to Ireland in illegal tax benefits even though the deadline has passed, the European Union’s competition said on Tuesday,” Arjun Kharpal and Gemma Acton report for CNBC.
“‘Well the recovery is not done yet but we have been working with the Irish authorizes and we can see that they are moving forward to do the recovery of the unpaid taxes,'” EU Competition Commissioner Margrethe Vestager said during a press conference in response to a question by CNBC,” Kharpal and Acton report. “‘It’s a tricky thing to do because it’s a large sum so of course you have to figure out how to do that. It’s not as an escrow account in some of the other cases where it might be 25 or 30 million euros … and therefore I do respect that it’s a complicated matter and it may take a little more time.'”
“Last year, the Commission ruled that Ireland must recover 13 billion euros in “illegal tax benefits” from Apple,” Kharpal and Acton report. “The deadline for Ireland to recover the money into an escrow account was January 3. But the money still has not been repaid… Still both Ireland and Apple have pledged to fight the decision via the European courts. Vestager said at the press conference that she does not know when the court case will take place for Apple and Ireland to appeal the EU’s decision.”
Read more in the full article here.
MacDailyNews Take: Another pothole upon a road that will take years to traverse.
The EU’s antitrust commissioner, Margrethe Vestager, is a fool.
Anyone who decides to set up a business in a European Union member country today is insane. — MacDailyNews, August 30, 2016
SEE ALSO:
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
The reality is that large scale industry, finance and manufacturing in the U.K. is looking at moving to the EU a.s.a.p. while freezing new investment and hiring. Some very confused thinking in these boards and comments.
Yeah, I’m sure they are “looking” at it. Large scale industry are always looking at stuff. I don’t think many will be actually doing it though.
Brexit might not even happen now.
“Anyone who decides to set up a business in a European Union member country today is insane”
Anyone who says that is ignorant and stupid.