Breaking News

Sharkoon announces SKILLER SGM25W ASUS Unveils ExpertBook B3 G2 Conner Introduces the World's First "Pocket Cloud" via Kickstarter Pioneer announces microSD for dashcam God of War Greek trilogy remake in development & God of War Sons of Sparta out now

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Apple Appeals EU tax Ruling

Apple Appeals EU tax Ruling

Enterprise & IT Dec 19,2016 0

Apple is challenging a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty.

The European Commission said on Aug. 30 that Apple's Irish tax deal was illegal state aid and ordered it to repay up to 13 billion euros ($13.8 billion) to Ireland, where Apple has its European headquarters.

European Competition Commissioner Margrethe Vestager, a former Danish economy minister, said Apple's Irish tax bill implied a tax rate of 0.005 percent in 2014.

General Counsel Bruce Sewell and Chief Financial Officer Luca Maestri outlined in an interview with Reuters at Apple's global headquarters in Cupertino the company's plans for its appeal against the Commission's ruling at Europe's second highest court.

The iPhone and iPad maker was singled out because of its success, Sewell said.

"Apple is not an outlier in any sense that matters to the law. Apple is a convenient target because it generates lots of headlines. It allows the commissioner to become Dane of the year for 2016," he said, referring to the title accorded to Vestager by Danish newspaper Berlingske last month.

Apple will tell judges the Commission was not diligent in its investigation because it disregarded tax experts brought in by Irish authorities.

"Now the Irish have put in an expert opinion from an incredibly well-respected Irish tax lawyer. The Commission not only didn't attack that - didn't argue with it, as far as we know - they probably didn't even read it. Because there is no reference (in the EU decision) whatsoever," Sewell said.

Ireland's tax treatment has allowed Apple to avoid tax on tens of billions of dollars of non-U.S. profit. Over the past 10 years, the company has paid tax at a rate of 3.8 percent on $200 billion of overseas profits, filings show. This is a fraction of the tax rate in the countries where Apple's products are designed, made and sold.

Tags: Apple
Previous Post
Samsung Updates New Notebook 9 Line
Next Post
Samsung, LG To Showcase new Quantum-dot And OLED TVs at CES 2017

Related Posts

  • Apple introduces new AirTag with expanded connectivity range and improved findability

  • Apple introduces Digital ID

  • Apple unleashes M5 CPU and new devices

  • Apple debuts iPhone 17, Pro, Max, Air, Watch Series 11, Watch Ultra 3, Watch SE 3, AirPods Pro 3

  • Apple unveils Mac Studio featuring M4 Max and new M3 Ultra

  • Apple introduces iPad Air with powerful M3 chip and new Magic Keyboard

  • Apple debuts iPhone 16e

  • Apple introduces M4 Pro and M4 Max and new MacBook Pro

Latest News

Sharkoon announces SKILLER SGM25W
PC components

Sharkoon announces SKILLER SGM25W

ASUS Unveils ExpertBook B3 G2
Enterprise & IT

ASUS Unveils ExpertBook B3 G2

Conner Introduces the World's First "Pocket Cloud" via Kickstarter
Enterprise & IT

Conner Introduces the World's First "Pocket Cloud" via Kickstarter

Pioneer announces microSD for dashcam
Consumer Electronics

Pioneer announces microSD for dashcam

God of War Greek trilogy remake in development & God of War Sons of Sparta out now
Gaming

God of War Greek trilogy remake in development & God of War Sons of Sparta out now

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

be quiet! Pure Loop 3 280mm

be quiet! Pure Loop 3 280mm

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed