“Ireland is being sued by the European Union authorities for failing to collect a year-old bill of as much as 13 billion euros ($15.3 billion) from Apple Inc. in a move that risks escalating tensions over the nation’s tax policies,” Dara Doyle reports for Bloomberg.
“The European Commission on Wednesday referred Ireland to the European Court of Justice for failing to recoup the Apple bill, which was first reported by Bloomberg News Monday,” Doyle reports. “The money, which was initially due by Jan. 3, won’t be collected for another six months at least, the EU said. ‘We of course understand that recovery in certain cases may be more complex than in others, and we are always ready to assist,’ EU Competition Commissioner Margrethe Vestager said in an emailed statement. ‘But member states need to make sufficient progress to restore competition.'”
“While Apple and Ireland are appealing the decision, the country is still facing European pressure over its resistance to a new set of rules for taxing tech companies,” Doyle reports. “‘The work on the establishment of the fund to deal with the unprecedented recovery amount will continue, notwithstanding the fact that the commission has taken this wholly unnecessary step,’ the Irish finance ministry said in an emailed statement.”
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MacDailyNews Take: The dunce Vestager is out of her depth.
Is Ireland its own country or merely a vassal state to a quasi-governmental political confederation that’s already been hit with one very significant defection?
The EU’s retroactive tax grab is a farce.
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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