US Treasury tries to protect US companies from paying European Taxes.

[DeYaKen]

It has been a long running sore in Europe that these companies take money from Europe but tries to avoid paying tax on the profit they make here.
Europe is trying to close the loopholes and the US treasury is now trying to stop them.

http://www.bbc.co.uk/news/business-37179785

 

[BotanyBoy]

What a shame I think EU should tax the fucking dog shit out of US companies.....run the pricing through the roof and companies right the fuck out of Europe.

DO IT!!

 

[DeYaKen]

I posted this purely because it highlights US hypocrisy. The organisation that is telling companies to pay their taxes, is helping them avoid paying taxes in other countries.

It takes me back to the time when the president declared a war on terrorism while giving shelter to convicted terrorists, on the grounds that they couldn't be extradited because they were terrorists.

 

[underguy1]

It's like that wrestling shit.

Idiots 'debating' idiots.

 

[JackLuis]

I posted this purely because it highlights US hypocrisy. The organisation that is telling companies to pay their taxes, is helping them avoid paying taxes in other countries.

It takes me back to the time when the president declared a war on terrorism while giving shelter to convicted terrorists, on the grounds that they couldn't be extradited because they were terrorists.

"I'm Shocked! Shocked I say," to hear that the US Government is double dealing and hypocritically saying one thing and doing another. Next you'll be telling us that the US Government can't be trusted to act within it own stated principles!

I hope you are having a nice summer in the UK. It can get awfully damp over there.

 

[DeYaKen]

"I'm Shocked! Shocked I say," to hear that the US Government is double dealing and hypocritically saying one thing and doing another. Next you'll be telling us that the US Government can't be trusted to act within it own stated principles!

I hope you are having a nice summer in the UK. It can get awfully damp over there.

Thanks for the laugh. Yeah, it can, summer is almost over and it has not been wall to wall sunshine but today has been terrific.

 

[DeYaKen]

Just an update. Apple told to pay close to $15 billion in back taxes to Ireland.

http://www.bbc.co.uk/news/business-37220799

Interesting that Senator Charles E Schumer, thinks that US companies shouldn't be made to pay taxes in the country in which the money was made. The money should come back to the US where we can tax it.

 

[phrodeau]

Here's the pertinent information if you want to dispute a foreign tax that may or may not be under a tax treaty.

https://www.irs.gov/irb/2015-35_IRB/ar10.html

 

[DeYaKen]

Here's the pertinent information if you want to dispute a foreign tax that may or may not be under a tax treaty.

https://www.irs.gov/irb/2015-35_IRB/ar10.html

It's a bit more complicated than that.
Apple negotiated a deal with the Irish government. They would take their European offices to Ireland in return for a zero tax rate. They then claimed that all European transactions take place in Ireland. However, under EU rules, the Irish government cannot offer a lower tax rate to individual companies. Doing so constitutes a state subsidy of the business. Under EU law that is illegal. Both Apple and the Irish government knew that it was probably illegal but they obviously decided to take the chance.
Both are now planning to appeal.