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Apple will start paying $21B in back taxes to Ireland

businessinsider.com

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Re: Apple will start paying $21B in back taxes to Ireland

#41

Post by patrickk »

clu3l355 wrote: post #35
talideon wrote: post #34

Earlier quoted context omitted.

> It's weird that the EU has a monetary union, but so much difference in corporate income tax rates. That's because it's a monetary union, not a fiscal union. > Great that IE is 12%, but this "competition" is BS in the sense that they needed the higher-tax countries to bail them out just a few years ago: That's based on a severe misconception. The Irish headline rate is 12.5%, but the effective rate doesn't differ mu…

Moreover, Ireland was the fastest-recovering nation financial crisis, driven undoubtedly in part by its preferential corporate tax rates

Ireland's economy is highly linked to how well the broader global economy is doing. When major US corporations look to expand during good times, Ireland often directly benefits. Ireland's domestic economy is comparatively tiny, but plenty of large industries like tech, pharma and some random ones like global aircraft leasing[1] have a large base in Ireland to support their European and sometimes global operations.

[1] https://www.irishtimes.com/business/transport-and-tourism/ai...

Re: Apple will start paying $21B in back taxes to Ireland

#42

Post by tom_mellior »

chx wrote: post #31

> Apple was hit by the European Commission with a $21 billion bill for back taxes in 2016. > It’s starting to pay the funds You know, I was fined for not paying my installments (not my taxes! just my installments) in 2017 and these guys didn't pay their back taxes for two bloody years and were not charged hefty penalties and interest for it. Really, blood boiling unfair.

I think that's because the appeal is still pending. Did you file an appeal, and is it pending?

Re: Apple will start paying $21B in back taxes to Ireland

#43

Post by throwawaymanbot »

naskwo wrote: post #11

It's weird that the EU has a monetary union, but so much difference in corporate income tax rates. Great that IE is 12%, but this "competition" is BS in the sense that they needed the higher-tax countries to bail them out just a few years ago: https://en.wikipedia.org/wiki/Post-2008_Irish_banking_crisis It's a leak in the EU system, and it needs to be plugged. Just imagine what a unified income tax rate in the EU wou…

My good man, I think you'll find that the Irish Tax Payer (public funds) was on the hook for that Private debt, In the same way the American Tax payer was. There was no bail out for Ireland. There was for the banks in Ireland by the Citizens. This is a scandal for many reasons. But clearly not what you just wrote that Ireland was bailed out by higher-tax countries in the EU. (Unless you class Irish Tax payers as higher Tax EU Countries?)

Ireland's Tax Payers are still paying and will be paying for this scandal for Decades to come.

Re: Apple will start paying $21B in back taxes to Ireland

#44

Post by justherefortart »

grecy wrote: post #40
chx wrote: post #31

> Apple was hit by the European Commission with a $21 billion bill for back taxes in 2016. > It’s starting to pay the funds You know, I was fined for not paying my installments (not my taxes! just my installments) in 2017 and these guys didn't pay their back taxes for two bloody years and were not charged hefty penalties and interest for it. Really, blood boiling unfair.

Absolutely, I agree 100% One year I made a mistake on my taxes and my refund was $1000 more than it should have been. Six months later not only was I fined for the mistake and forced to pay back the $1000, I had to pay interest on that $1000. (Canada) This year when the government owed me $6000 in overpaid taxes, why didn't they pay me interest on my money they were holding...?

Because your taxes are your duty.

In the US, if you don't file for a year and are owed, after the filing period they do pay interest. But not for the initial filing year. In fact, if you over pay too much, they (the IRS) can penalize you for that as well.

Re: Apple will start paying $21B in back taxes to Ireland

#45

Post by dogma1138 »

naskwo wrote: post #11

It's weird that the EU has a monetary union, but so much difference in corporate income tax rates. Great that IE is 12%, but this "competition" is BS in the sense that they needed the higher-tax countries to bail them out just a few years ago: https://en.wikipedia.org/wiki/Post-2008_Irish_banking_crisis It's a leak in the EU system, and it needs to be plugged. Just imagine what a unified income tax rate in the EU wou…

Not any less crazy than being in a monetary union where you do not control your own currency or inflation and where the body who does (ECB) is technically outside of the political system and out of reach of both the national and EU electorates.

Essentially because of the above what you call crazy is the only option for those countries to survive.

When you can’t make yourself cheaper than Germany because of the Euro the only way of making yourself appear cheaper is through tax breaks.

Re: Apple will start paying $21B in back taxes to Ireland

#46

Post by rorykoehler »

naskwo wrote: post #11

It's weird that the EU has a monetary union, but so much difference in corporate income tax rates. Great that IE is 12%, but this "competition" is BS in the sense that they needed the higher-tax countries to bail them out just a few years ago: https://en.wikipedia.org/wiki/Post-2008_Irish_banking_crisis It's a leak in the EU system, and it needs to be plugged. Just imagine what a unified income tax rate in the EU wou…

Ireland's tax rate has nothing to do with the bail out. It's intellectually dishonest to link the two.

Re: Apple will start paying $21B in back taxes to Ireland

#48

Post by messe »

lucideer wrote: post #24
barrkel wrote: post #19

Earlier quoted context omitted.

Bear in mind that countries like France have even lower rates in practice due to various loopholes for their largest corporations - https://www.irishexaminer.com/business/france-has-lower-effe... - effective tax rate of 8.2% as of 2013. The leak in the system is consolidated tax base, not different tax rates. That is, booking revenue (especially digital revenue) from sales across the whole of the EU in a single EU co…

> Bear in mind that countries like France have even lower rates in practice due to various loopholes for their largest corporations Ireland also has lower rates in practice due to allowances for their largest corporations: Apple's allowance afforded them an effective rate of <1%, hence the $21 billion.

While that is true for Apple, if you'd read the article you'd notice that the effective corporate tax rate in Ireland (11.9%), as found by the study, is still higher than France's (8.2%), and far closer to the advertised rate of 12.5%.
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