Ireland, the European sanctuary for all tech giants when it comes to paying taxes, decided to fight against a recent decision of the European Court that forces Apple to return $14.4 billion in unpaid tax revenues.
In recent years, Ireland has become the lightning beacon of hope to American technology companies by offering favorable tax climate if they were to relocate their business doings on their soil.
Now, in strange twist of events, Ireland will most likely appeal against a decision allowing a downpour of money in their state treasury.
The “clash of clans” ordeal arose when a special commission of the European Union ruled against a certain number of independent nations in their policies to create special tax exemptions for selected few corporations. This, as they say, creates an illegal system that favors those companies over their rivals.
Furthermore, the special investigation in the matters found out Apple had paid astonishingly low percent in annual taxes. The iPhone maker paid taxes ranging from 0.005 to 1% against its profits made in Europe from 2003 – 2014.
Ireland is keeping low tax rates in order to bring more companies to invest on their national lands, thus keeping unemployment at bay. This policy came to fruition as the big technology triple – Apple, Facebook and Google – all raised foundations in the green pastures as seen in Ireland’s lands.
It’s still early to bring predictions to the table, especially when it’s known that Belgium, Luxembourg and the Netherlands are all raising similar separate appeals against the European Commission.
Who will win? Is Apple right? Share some love below.
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