Apple may have to get out the chequebook because the EU is saying that Apple has to pay up to €13 billion ($14.5 billion) in back taxes to the Irish government according to a ruling that came out today. That’s because Ireland has been granting Apple undue tax benefits.
To nobody’s surprise, Apple doesn’t agree with that. To that end, Apple CEO Tim Cook replied in an open letter, saying that they are “confident” that the Commission’s order will be reversed. Oh. They also said this:
We have operated continuously in Cork ever since, even through periods of uncertainty about our own business, and today we employ nearly 6,000 people across Ireland. The vast majority are still in Cork — including some of the very first employees — now performing a wide variety of functions as part of Apple’s global footprint. Countless multinational companies followed Apple by investing in Cork, and today the local economy is stronger than ever.
Let me translate for you: Apple created a lot of jobs in Ireland. If the EU doesn’t see things our way, something might happen to those jobs. Not to mention jobs connected to other companies who have set up shop in Ireland to avoid paying taxes.
Now that could just be the cynic in me coming out. We’ll see what happens as this is likely be fun to watch.
UPDATE: As if to make life miserable for the Irish and the EU, Great Britain as well Turkey are dropping hints to Apple that they should come to their respective countries and set up shop as they can provide the tax breaks that Apple is looking for. The British offer appeared in The Telegraph and the Turkish offer appeared in a Tweet from Deputy Prime Minister Mehmet Simsek:
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This entry was posted on August 30, 2016 at 1:33 pm and is filed under Commentary with tags Apple. You can follow any responses to this entry through the RSS 2.0 feed.
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EU To Apple: Pay Up
Apple may have to get out the chequebook because the EU is saying that Apple has to pay up to €13 billion ($14.5 billion) in back taxes to the Irish government according to a ruling that came out today. That’s because Ireland has been granting Apple undue tax benefits.
To nobody’s surprise, Apple doesn’t agree with that. To that end, Apple CEO Tim Cook replied in an open letter, saying that they are “confident” that the Commission’s order will be reversed. Oh. They also said this:
We have operated continuously in Cork ever since, even through periods of uncertainty about our own business, and today we employ nearly 6,000 people across Ireland. The vast majority are still in Cork — including some of the very first employees — now performing a wide variety of functions as part of Apple’s global footprint. Countless multinational companies followed Apple by investing in Cork, and today the local economy is stronger than ever.
Let me translate for you: Apple created a lot of jobs in Ireland. If the EU doesn’t see things our way, something might happen to those jobs. Not to mention jobs connected to other companies who have set up shop in Ireland
to avoid paying taxes.Now that could just be the cynic in me coming out. We’ll see what happens as this is likely be fun to watch.
UPDATE: As if to make life miserable for the Irish and the EU, Great Britain as well Turkey are dropping hints to Apple that they should come to their respective countries and set up shop as they can provide the tax breaks that Apple is looking for. The British offer appeared in The Telegraph and the Turkish offer appeared in a Tweet from Deputy Prime Minister Mehmet Simsek:
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This entry was posted on August 30, 2016 at 1:33 pm and is filed under Commentary with tags Apple. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.