U.S. Taxpayers have to pay Apple's $14.5 Billion in Ireland back taxes

[dmcowen674]

8-30-2016

US taxpayers could end up covering Apple's back taxes in Ireland


European authorities have clamped down on a special deal between Apple (AAPL) and Irish tax authorities, saying the arrangement uniquely favors Apple and is unavailable to other companies. Nixing the deal—which lowered taxes on much of Apple’s foreign income to virtually nothing—will force Apple to pay taxes in Ireland at the higher rate other companies pay. The bill: about $14.5 billion for the past 10 years, plus interest.

But Apple may get reimbursed for all of that by an unlikely benefactor: the US taxpayer. “It’s extremely possible the US taxpayer will have to pay this bill,” says Stuart Gibson, a former government tax official who’s now editor of Tax Notes International. “For every dollar in tax Apple has to repay in Ireland, they may get to reduce their US tax bill by $1.”

[dmcowen674]

Just another outrageous notch towards Americans going full out revolt.

Keep it going Corporations, just keep it going

[RolloTheGreat]

Just another outrageous notch towards Americans going full out revolt.

Keep it going Corporations, just keep it going

People will be angered by Apple! Instead of taking pride in gladly overpaying $100s of dollars for their crap, they will be enraged at this chicanery!

Yes the glorious revolution will begin soon, and the revolutionaries will make things right again, bring about a new age!

[RolloTheGreat]

I guess you do want to see my family's heads on stakes Dave.

I only wish health and prosperity for you and your family.

Whose attitude is better for society? It's a puzzler!

[RolloTheGreat]

8-30-2016

US taxpayers could end up covering Apple's back taxes in Ireland


European authorities have clamped down on a special deal between Apple (AAPL) and Irish tax authorities, saying the arrangement uniquely favors Apple and is unavailable to other companies. Nixing the deal—which lowered taxes on much of Apple’s foreign income to virtually nothing—will force Apple to pay taxes in Ireland at the higher rate other companies pay. The bill: about $14.5 billion for the past 10 years, plus interest.

But Apple may get reimbursed for all of that by an unlikely benefactor: the US taxpayer. “It’s extremely possible the US taxpayer will have to pay this bill,” says Stuart Gibson, a former government tax official who’s now editor of Tax Notes International. “For every dollar in tax Apple has to repay in Ireland, they may get to reduce their US tax bill by $1.”

What a load of bullshit that last paragraph is.  ALL companies need to pay ALL of their taxes in ALL of the countries that they do business in.

Any CEO who argues otherwise should be stuck in front of the firing squad/strapped into the electric chair.

[/quote]

"Kill all those rich bastards with their fancy stuff! Kill them all!!!"
-GCeasar, Organizing his gorilla muscle squad to attack the rich folks

[dmcowen674]

More Corporations that U.S. Taxpayers will have to foot the tax bill for:

StarBucks
Facebook
Amazon
McDonalds


Apple isn’t the only US corporation to face scrutiny from the European Union, which is questioning the legality of tax breaks EU member countries give to big foreign companies to entice them to do business there.

Last October, the European Commission ruled that a tax arrangement between Starbucks (SBUX) and the Netherlands was illegal, forcing the Seattle-based coffee giant to pay back $32.7 million. The Netherlands filed an appeal this January, although it could be at least another year-and-a-half before any resolution.

For Amazon (AMZN) and McDonald’s (MCD), European tax investigations are ongoing. Both corporations may be in hot water over tax situations with Luxembourg, the small European country bordered by Belgium, France and Germany.

In October 2014, the European Commission began an investigation into Amazon’s tax arrangements with Luxembourg, claiming a tax ruling from 2003 favoring Amazon may also be in violation of the trade bloc’s rules.

“Based on a methodology set by the tax ruling, Amazon EU Sàrl pays a tax deductible royalty to a limited liability partnership established in Luxembourg but which is not subject to corporate taxation in Luxembourg,” part of the commission’s press release reads, adding that most European profits of Amazon are recorded in Luxembourg but not subject to corporate taxation in that country.

Amazon declined to comment when reached by Yahoo Finance. It’s also unclear when the European Commission will finally offer a ruling for the Seattle-based company.

McDonald’s, meanwhile, came under scrutiny in December 2015, when the European Commission declared the European franchising side of the corporation “has not virtually paid any corporate tax in Luxembourg nor in the US” since 2008 for royalties paid by franchisees operating restaurants in Europe and Russia. The commission has not made a decision in the case of McDonald’s, either.

McDonald’s did not immediately return Yahoo Finance’s request for comment.

[SickBeast]

The tax code is way too complicated. I know that here in Canada they say that it's the most complicated piece of legislation in existence. I'm sure it's the same in the USA. IMO there should be flat tax rates. Get rid of all the loopholes. It will make everything simpler and it will stop all these crooks from finding ways to not pay tax. They also need to crack down on all the offshore bullshit. If they do both of those things, they can solve all of the problems in the world and our countries would be much nicer places to live in. It would probably save so much money for the government that they could give us *all* a nice tax break.

[RolloTheGreat]

More Corporations that U.S. Taxpayers will have to foot the tax bill for:

StarBucks
Facebook
Amazon
McDonalds


Apple isn’t the only US corporation to face scrutiny from the European Union, which is questioning the legality of tax breaks EU member countries give to big foreign companies to entice them to do business there.

Last October, the European Commission ruled that a tax arrangement between Starbucks (SBUX) and the Netherlands was illegal, forcing the Seattle-based coffee giant to pay back $32.7 million. The Netherlands filed an appeal this January, although it could be at least another year-and-a-half before any resolution.

For Amazon (AMZN) and McDonald’s (MCD), European tax investigations are ongoing. Both corporations may be in hot water over tax situations with Luxembourg, the small European country bordered by Belgium, France and Germany.

In October 2014, the European Commission began an investigation into Amazon’s tax arrangements with Luxembourg, claiming a tax ruling from 2003 favoring Amazon may also be in violation of the trade bloc’s rules.

“Based on a methodology set by the tax ruling, Amazon EU Sàrl pays a tax deductible royalty to a limited liability partnership established in Luxembourg but which is not subject to corporate taxation in Luxembourg,” part of the commission’s press release reads, adding that most European profits of Amazon are recorded in Luxembourg but not subject to corporate taxation in that country.

Amazon declined to comment when reached by Yahoo Finance. It’s also unclear when the European Commission will finally offer a ruling for the Seattle-based company.

McDonald’s, meanwhile, came under scrutiny in December 2015, when the European Commission declared the European franchising side of the corporation “has not virtually paid any corporate tax in Luxembourg nor in the US” since 2008 for royalties paid by franchisees operating restaurants in Europe and Russia. The commission has not made a decision in the case of McDonald’s, either.

McDonald’s did not immediately return Yahoo Finance’s request for comment.

Dave, do you even pay federal tax? If not, what do you care what they charge me?

[SickBeast]

Oh lord...so now this is about Dave.

[RolloTheGreat]

The tax code is way too complicated.  I know that here in Canada they say that it's the most complicated piece of legislation in existence.  I'm sure it's the same in the USA.  IMO there should be flat tax rates.  Get rid of all the loopholes.  It will make everything simpler and it will stop all these crooks from finding ways to not pay tax.  They also need to crack down on all the offshore bullshit.  If they do both of those things, they can solve all of the problems in the world and our countries would be much nicer places to live in. [B ] It would probably save so much money for the government that they could give us *all* a nice tax break. [/B]

You do realize if the govt raised taxes to corps, the money would come from employees anyway?

The corps wouldn't just say, "Gosh, the jig is up. There go our profits."

No, they would either cut pay or benefits to make up the shortfall.

Let's say you are renting me a room in your basement SB for $500 month. If your property tax is raised $500 a year, are you going to pay it or raise my rent $40?

[RolloTheGreat]

Oh lord...so now this is about Dave.  

Well he has been saying I should be murdered and robbed.

He seems incredibly mad at anyone he perceives as cheating on taxes.

I believe I've read about half of Americans don't pay Federal tax due to the exemptions available when you're making the lower end of middle class jing.

I think Dave told he was making middle class wages when we were talking about him going back to school and joining the system instead of hating it.

So I'm asking why he cares at all if I am getting screwed if he isn't, and he wants me executed and robbed anyway.

[SickBeast]

Oh lord...so now this is about Dave.  

Well he has been saying I should be murdered and robbed.

He seems incredibly mad at anyone he perceives as cheating on taxes.

I believe I've read about half of Americans don't pay Federal tax due to the exemptions available when you're making the lower end of middle class jing.

I think Dave told he was making middle class wages when we were talking about him going back to school and joining the system instead of hating it.

So I'm asking why he cares at all if I am getting screwed if he isn't, and he wants me executed and robbed anyway.

Well you're saying that poor Americans shouldn't get free health care, which is essentially a death sentence for a lot of people. You would probably watch people die instead of giving them food stamps as well.

[SteelCrysis]

Oh lord...so now this is about Dave.  

Well he has been saying I should be murdered and robbed.

He seems incredibly mad at anyone he perceives as cheating on taxes.

I believe I've read about half of Americans don't pay Federal tax due to the exemptions available when you're making the lower end of middle class jing.

I think Dave told he was making middle class wages when we were talking about him going back to school and joining the system instead of hating it.

So I'm asking why he cares at all if I am getting screwed if he isn't, and he wants me executed and robbed anyway.

Well you're saying that poor Americans shouldn't get free health care, which is essentially a death sentence for a lot of people.  You would probably watch people die instead of giving them food stamps as well.

[SickBeast]

[SickBeast]

Now we just need Dave to show Rollo the door! Do it Dave! Send Rollo to internet purgatory like you said! C'mon!

[SickBeast]

C'mon Dave do it! Rollo has bad karma!

[RolloTheGreat]

Well you're saying that poor Americans shouldn't get free health care, which is essentially a death sentence for a lot of people.  You would probably watch people die instead of giving them food stamps as well.

You are correct.

I don't think anyone who is not very old, very young, or disabled should be allowed to live off of anyone else's labor. I think that assistance programs for those people should at best be routed through private industry as part of their pay for doing work, and at worst, they should be made to work for the government to earn their benefits.

I'm crazy that way, I think the government should not get to say, "This group of people should not have to work for these things because this other totally unrelated group of people already is working, so we can take money from them and give it to the first group.".

Why don't you show off your master's degree intellectual skills and tell us why if I quit my job today it's fair for BoFox or Ben to have to pay for my rent, food, and healthcare with money they earned?"

I won't hold my breath, you'll just start whimpering about how it's mean to not want to give your money to slacker strangers, and how you would definitely do it if you had a little more money. (but people with more money than you should definitely do it, right?)

[RolloTheGreat]

Now we just need Dave to show Rollo the door!  Do it Dave!  Send Rollo to internet purgatory like you said!  C'mon!  

Again, I'm amazed you teach children. They should be teaching you.

Do you honestly think people on truck, boat, housing, electronics, fishing, hunting, gun forums know what a video card is? Or would care if they did know I got free engineering sample video cards in exchange for posting about them, beta testing drivers, and modding on a website? Uh huh.

I post on sites like the above every week of the year, have never been banned.

Second, you know I have cash and 4 ISPs. Do you really think I'm banned anywhere?

Got news Einstein, without the "Rollo" user name and "NVIDIA Focus Group" in my sig, I don't get banned on the computer tech forums either.

About the best Dave can do is send me to "ABT Purgatory" and watch things get dull around here really fast. (I'm a big chunk of the posts on this forum)