“Apple Inc. Chief Executive Officer Tim Cook is in Paris to meet Emmanuel Macron, amid calls by the French President and European allies to change rules in the region to get technology giants to pay more tax,” Marie Mawad and Helene Fouquet report for Bloomberg.
“Cook and Macron are due to meet on Monday afternoon, according to the French president’s public agenda. Macron is leading a group of countries — including Germany, Italy and Spain — that are seeking a way to plug the European loopholes that allow some companies to minimize taxes by shifting profits to jurisdictions such as Ireland or the Netherlands,” Mawad and Fouquet report. “Macron said last month in Tallinn, Estonia, during a European Union summit, that internet giants don’t contribute to the common good.”
Read more in the full article here.
MacDailyNews Take: Along with overregulation, overtaxing is the surest way to drive business – and all of the ancillary tax revenues that companies and their employees provide – away.