Featured Post

Follow Current World Daily

Tuesday, August 30, 2016

Apple holds Europe to ransom...

Daily Mail
August 30, 2016
Apple has already threatened to cut jobs after Brussels ordered it to repay £11billion – the biggest tax bill in European history.
The European Commission’s three-year investigation into Apple’s sweetheart deal with Ireland has found it amounted to illegal state aid.
In a damning report published today it emerged the tech giant paid as little as 0.005 per cent tax by funnelling worldwide profits through a ‘so-called headquarters’ in Ireland with no staff or premises.
In 2011 Apple’s profits outside the US were 22 billion US dollars but Ireland agreed that only about 50 million euros was considered taxable.
The £11billion (13billion euro) tax bill will not be difficult for the company to pay because it has amassed a huge £120billion offshore cash fund and last year made £35billion – the biggest profit in corporate history.
But Apple will appeal and the tech giant’s CEO Tim Cook, who previously called the probe ‘political c**p’, is threatening EU job losses if they don’t back down.
Ireland has also already rejected the chance to recoup £11billion in tax, equivalent to more than £2,000 for each of their 4.5million population.

No comments:

Post a Comment