Laconics Round Table

Laconics Round Table
 
HomeFAQSearchMemberlistUsergroupsRegisterLog in

Share | 
 

 Starbuck retaliates against Indonesia's call to collect back taxes

View previous topic View next topic Go down 
AuthorMessage
wag
Cervelle de Veau
avatar

Posts : 8452
Join date : 2012-12-04

PostSubject: Starbuck retaliates against Indonesia's call to collect back taxes   Fri Jan 15, 2016 3:59 pm


_________________
Nobody gets paid to tell the truth.
Back to top Go down
View user profile
wag
Cervelle de Veau
avatar

Posts : 8452
Join date : 2012-12-04

PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   Fri Jan 22, 2016 3:29 pm

Apple’s Cook lobbies EU antitrust chief over Irish back taxes

Christian Oliver in Brussels

  • Comments

©Reuters
Apple's Tim Cook
Apple boss Tim Cook made a surprise visit to Brussels on Thursday to lobby the EU’s antitrust chief weeks before she is set to rule on a landmark case that could force the California-based technology company to pay billions in underpaid taxes to Ireland.
The EU’s probe into Apple’s Irish tax arrangements has become one of the most politically-charged cases pursued by Brussels since it took on Microsoft two decades ago. Coupled with its antitrust case against Google, it has sparked accusations in Washington that European commissioner Margrethe Vestager is unfairly targeting the US technology sector.

A spokesman for Ms Vestager confirmed she held a “private meeting” with Mr Cook, but gave no further details. Apple also declined to comment on what took place at the meeting.
Dublin is known to be angry about what it believes is unfair treatment of Apple, and its officials worry Ms Vestager’s staff has changed their legal arguments in the run-up to a decision on whether to order a repayment of back taxes.
The Danish commissioner has rejected accusations of bias and argued that she is trying to ensure that EU countries do not give “sweetheart” tax deals to selected multinationals, which would be unavailable to competitors, simply to secure investment.
People close to the investigation say a decision will come after the Irish election, which is expected in late February. Both the Irish government and Apple have argued that they have done nothing wrong, and Dublin has vowed to appeal any finding against it.
But Mr Cook’s personal intervention is a sign that Apple is worried about the direction of Ms Vestager’s inquiry, especially after she ruled in October that Luxembourg and the Netherlands had provided improper tax benefits to the Italian carmaker Fiat and the US coffee shop chain Starbucks — the first such rulings in her expanding corporate tax probe. Those cases are now being appealed.
Mr Cook is no stranger to taking on senior politicians critical of the company’s tax practices and emerging with newfound allies.


Two years ago, he appeared before a US Senate inquiry into corporate America’s use of offshore tax havens and was able to win over several sceptical senators with a mix of defiance and steeliness that belied the laid-back Alabama persona he projects during the company’s product unveilings.
Analysts believe the stakes could be enormous because of the huge sums of money that Dublin could be forced to recover from Apple. Bloomberg Intelligence estimates the potential clawback at around $8bn, while JPMorgan has argued that Apple could have to pay $19bn in a worst-case scenario.
Lawyers in Brussels say that the European Commission is unlikely to set such a high recovery figure, but warn that it could still be the biggest sum ever involved in a commission decision.
Because tax policy is technically a competence of the member states, the commission has taken a novel and contentious approach to tackling preferential tax deals by using powerful rules concerning illegal state aid. In effect, Brussels is arguing that tax rulings are a form of illegal subsidy that gives companies an unfair advantage over their rivals.
However, people close to Apple and Ireland insist their case is very different from the previous ones. Apple stresses that it has a large presence in Ireland, and that its European headquarters are in Cork with 5,500 employees in the country — unlike some other multinationals, which occasionally have only nameplates to establish residency in tax havens.
Many of the commission’s critics say that the money earned in Ireland is simply deferred tax that will ultimately be payable to the US Treasury once Apple repatriates the funds. They argue that a large share of what the commission views as taxable income is already booked a deferred US tax in Apple’s quarterly accounts.
They also accuse the commission of using the state aid weapon retroactively to trample over tax arrangements that were made in full accordance with Irish law.

_________________
Nobody gets paid to tell the truth.
Back to top Go down
View user profile
Jacob Gold
Cervelle de Veau
avatar

Posts : 5043
Join date : 2012-12-04

PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   Sat Jan 23, 2016 2:40 pm

Time to ISIS (wink wink) to bomb Indonesia
Back to top Go down
View user profile
wag
Cervelle de Veau
avatar

Posts : 8452
Join date : 2012-12-04

PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   Tue Aug 30, 2016 9:34 am

Read Apple's letter to Europe on Irish tax decision

Tim Cook says European Commission decision will have 'profound and harmful effect' across Europe


  • By [url=http://www.theverge.com/users/Amar Toor]Amar Toor[/url]
  • on August 30, 2016 07:50 am


(Drew Angerer/Getty Images)



Apple CEO Tim Cook has published an open letter to customers in Europe, after the European Commission ruled that Ireland gave preferential tax treatment to the tech company. Earlier Tuesday, the Commission ordered Ireland to collect up to $14.5 billion in unpaid taxes from Apple, ruling that the Irish government's tax deals gave the company "a significant advantage" over other businesses, in violation of EU law.

In the letter, published on Apple's website, Cook described the Commission's decision as "unprecedented," adding that it will have a "profound and harmful effect" on investment and jobs in Europe. Apple and Ireland have already said that they plan to appeal the decision.

Read Cook's full letter below.
Quote :
A Message to the Apple Community in Europe

Thirty-six years ago, long before introducing iPhone, iPod or even the Mac, Steve Jobs established Apple’s first operations in Europe. At the time, the company knew that in order to serve customers in Europe, it would need a base there. So, in October 1980, Apple opened a factory in Cork, Ireland with 60 employees.
At the time, Cork was suffering from high unemployment and extremely low economic investment. But Apple’s leaders saw a community rich with talent, and one they believed could accommodate growth if the company was fortunate enough to succeed.
We have operated continuously in Cork ever since, even through periods of uncertainty about our own business, and today we employ nearly 6,000 people across Ireland. The vast majority are still in Cork — including some of the very first employees — now performing a wide variety of functions as part of Apple’s global footprint. Countless multinational companies followed Apple by investing in Cork, and today the local economy is stronger than ever.
The success which has propelled Apple’s growth in Cork comes from innovative products that delight our customers. It has helped create and sustain more than 1.5 million jobs across Europe — jobs at Apple, jobs for hundreds of thousands of creative app developers who thrive on the App Store, and jobs with manufacturers and other suppliers. Countless small and medium-size companies depend on Apple, and we are proud to support them.
As responsible corporate citizens, we are also proud of our contributions to local economies across Europe, and to communities everywhere. As our business has grown over the years, we have become the largest taxpayer in Ireland, the largest taxpayer in the United States, and the largest taxpayer in the world.
Over the years, we received guidance from Irish tax authorities on how to comply correctly with Irish tax law — the same kind of guidance available to any company doing business there. In Ireland and in every country where we operate, Apple follows the law and we pay all the taxes we owe.
The European Commission has launched an effort to rewrite Apple’s history in Europe, ignore Ireland’s tax laws and upend the international tax system in the process. The opinion issued on August 30th alleges that Ireland gave Apple a special deal on our taxes. This claim has no basis in fact or in law. We never asked for, nor did we receive, any special deals. We now find ourselves in the unusual position of being ordered to retroactively pay additional taxes to a government that says we don't owe them any more than we've already paid.
The Commission’s move is unprecedented and it has serious, wide-reaching implications. It is effectively proposing to replace Irish tax laws with a view of what the Commission thinks the law should have been. This would strike a devastating blow to the sovereignty of EU member states over their own tax matters, and to the principle of certainty of law in Europe. Ireland has said they plan to appeal the Commission’s ruling and Apple will do the same. We are confident that the Commission’s order will be reversed.
At its root, the Commission’s case is not about how much Apple pays in taxes. It is about which government collects the money.
Taxes for multinational companies are complex, yet a fundamental principle is recognized around the world: A company’s profits should be taxed in the country where the value is created. Apple, Ireland and the United States all agree on this principle.
In Apple’s case, nearly all of our research and development takes place in California, so the vast majority of our profits are taxed in the United States. European companies doing business in the U.S. are taxed according to the same principle. But the Commission is now calling to retroactively change those rules.
Beyond the obvious targeting of Apple, the most profound and harmful effect of this ruling will be on investment and job creation in Europe. Using the Commission’s theory, every company in Ireland and across Europe is suddenly at risk of being subjected to taxes under laws that never existed.
Apple has long supported international tax reform with the objectives of simplicity and clarity. We believe these changes should come about through the proper legislative process, in which proposals are discussed among the leaders and citizens of the affected countries. And as with any new laws, they should be applied going forward — not retroactively.
We are committed to Ireland and we plan to continue investing there, growing and serving our customers with the same level of passion and commitment. We firmly believe that the facts and the established legal principles upon which the EU was founded will ultimately prevail.
Tim Cook

  • SourceApple

_________________
Nobody gets paid to tell the truth.
Back to top Go down
View user profile
puckatawk
Hambone
avatar

Posts : 416
Join date : 2014-04-16

PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   Wed Aug 31, 2016 3:08 am

Article:

'... the Commission ordered Ireland to collect up to $14.5 billion in unpaid taxes from Apple, ruling that the Irish government's tax deals gave the company "a significant advantage" over other businesses, in violation of EU law.'



If this is a good deal for settling back taxes, we might assume Apple had already earned profits in the order of $75 billion over the same period.  If taxable profits are only a margin of gross income, it looks like Apple must have made total sales from Ireland (alone) of $500 billion or so.



Why does this not seem to be adding up right?
Back to top Go down
View user profile
wag
Cervelle de Veau
avatar

Posts : 8452
Join date : 2012-12-04

PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   Wed Aug 31, 2016 2:12 pm

puckatawk wrote:

Why does this not seem to be adding up right?

Depends on who's doing the adding? 



Mel might know...  https://melgibstein.wordpress.com/2010/11/25/jews-of-the-ira/

_________________
Nobody gets paid to tell the truth.
Back to top Go down
View user profile
Sponsored content




PostSubject: Re: Starbuck retaliates against Indonesia's call to collect back taxes   

Back to top Go down
 
Starbuck retaliates against Indonesia's call to collect back taxes
View previous topic View next topic Back to top 
Page 1 of 1
 Similar topics
-
» Road to Miss Indonesia World 2015- Maria Harfanti Won!!
» Road to Miss Indonesia World 2014 - SULAWESI BARAT WON
» THEY CALL ME GREATNESS
» Aussies condemned to death in Indonesia
» Call of Duty MW2 - (PhpBB3)

Permissions in this forum:You cannot reply to topics in this forum
Laconics Round Table :: Laconics Round Table-
Jump to: