Results 1 to 8 of 8

Thread: [News] Apple sends Ireland $1.76 billion in first payment for back taxes

  1. #1
    Join XS BOINC Team StyM's Avatar
    Join Date
    Mar 2006
    Location
    Tropics
    Posts
    16,513

    [News] Apple sends Ireland $1.76 billion in first payment for back taxes

    https://www.engadget.com/2018/05/18/...es-to-ireland/

    Back in 2016, the European Commission ordered Apple to pay Ireland around 13 billion euros ($15.3 billion at current exchange rates) in back taxes. Apple had a special sweetheart deal with Ireland, which the commission ruled was illegal. Neither party was happy with this decision. Apple argued that the amount owed was miscalculated, while Ireland believed that the EU overstepped the bounds of its authority, but appeals so far have been unsuccessful. Now, according to Reuters, Apple has begun paying the owed back taxes.

    The first payment is for 1.5 billion euros (about $1.76 billion) and it's been deposited into an escrow account that was specifically established by the Irish government to collect these taxes from Apple. This doesn't mean the dispute is resolved, though. Apple is paying the money into an escrow fund specifically because both parties are still trying to appeal the decision. However, the European Commission found that Ireland failed to follow the 2016 ruling in a timely manner, which is why the funds are now being collected.

  2. #2
    Xtremely High Voltage Sparky's Avatar
    Join Date
    Mar 2006
    Location
    Ohio, USA
    Posts
    16,048
    Was the purpose of the EU to basically control the individual countries? Because it sure seems like that's what's happened. I mean, if Ireland had some sort of agreed tax setup with Apple, why does the EU get to force Ireland to collect X taxes? Just seems weird...
    The Cardboard Master
    Crunch with us, the XS WCG team
    Intel Core i7 2600k @ 4.5GHz, 16GB DDR3-1600, Radeon 7950 @ 1000/1250, Win 10 Pro x64

  3. #3
    Xtreme Guru
    Join Date
    May 2007
    Location
    Ace Deuce, Michigan
    Posts
    3,956
    Technically speaking, as long as they are part of the EU, then yes, the EU has some level of governing power. The EU is really a fiscal governing body; the utility of it for war purposes went away once nukes became a real thing.
    Quote Originally Posted by Hans de Vries View Post

    JF-AMD posting: IPC increases!!!!!!! How many times did I tell you!!!

    terrace215 post: IPC decreases, The more I post the more it decreases.
    terrace215 post: IPC decreases, The more I post the more it decreases.
    terrace215 post: IPC decreases, The more I post the more it decreases.
    .....}
    until (interrupt by Movieman)


    Regards, Hans

  4. #4
    Xtremely High Voltage Sparky's Avatar
    Join Date
    Mar 2006
    Location
    Ohio, USA
    Posts
    16,048
    No wonder there was Brexit.
    The Cardboard Master
    Crunch with us, the XS WCG team
    Intel Core i7 2600k @ 4.5GHz, 16GB DDR3-1600, Radeon 7950 @ 1000/1250, Win 10 Pro x64

  5. #5
    Xtreme Mentor
    Join Date
    Apr 2003
    Location
    Ankara Turkey
    Posts
    2,659
    Quote Originally Posted by Sparky View Post
    Was the purpose of the EU to basically control the individual countries? Because it sure seems like that's what's happened. I mean, if Ireland had some sort of agreed tax setup with Apple, why does the EU get to force Ireland to collect X taxes? Just seems weird...
    There are no custom taxes between EU countries. So giving a country this option which leads to an advantage over other member countries is not acceptable. This is nothing different than an American state does not obey federal governments regulations over chine trade.


    When i'm being paid i always do my job through.

  6. #6
    Xtremely High Voltage Sparky's Avatar
    Join Date
    Mar 2006
    Location
    Ohio, USA
    Posts
    16,048
    Quote Originally Posted by kromosto View Post
    There are no custom taxes between EU countries. So giving a country this option which leads to an advantage over other member countries is not acceptable. This is nothing different than an American state does not obey federal governments regulations over chine trade.
    Except the states were never fully individual sovereign entities like the countries in Europe, so, yes it is a lot different.
    The Cardboard Master
    Crunch with us, the XS WCG team
    Intel Core i7 2600k @ 4.5GHz, 16GB DDR3-1600, Radeon 7950 @ 1000/1250, Win 10 Pro x64

  7. #7
    Xtreme Guru
    Join Date
    May 2007
    Location
    Ace Deuce, Michigan
    Posts
    3,956
    Ehh, you're free to your own opinion, but a lot of independent economists think Brexit was a terrible fiscal move. Whether Britain should have realized it or not, they are getting stone walled on the previous trade agreement they had under the EU. That will lead to a significant loss in revenue and/or effective tax increases (vis a vis tariffs).
    Quote Originally Posted by Hans de Vries View Post

    JF-AMD posting: IPC increases!!!!!!! How many times did I tell you!!!

    terrace215 post: IPC decreases, The more I post the more it decreases.
    terrace215 post: IPC decreases, The more I post the more it decreases.
    terrace215 post: IPC decreases, The more I post the more it decreases.
    .....}
    until (interrupt by Movieman)


    Regards, Hans

  8. #8
    Xtreme Mentor
    Join Date
    Apr 2003
    Location
    Ankara Turkey
    Posts
    2,659
    Quote Originally Posted by Sparky View Post
    Except the states were never fully individual sovereign entities like the countries in Europe, so, yes it is a lot different.
    No it is not different. Do you think countries become a member of EU without changing anything? There are law of harmonization code of European Union and countries have to legislate them before entering EU.


    When i'm being paid i always do my job through.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •