European commission called unfair in poke some say could affect tech industry’s future – but others argue Apple shouldn’t just ‘enrich the 1%’Apple to shareholders: order to pay back $14.5bn ‘will be overturned’Ireland’s cosy relationship with Silicon Valley has been called into question after the European commission slapped Apple with a whopping $14.6bn tax bill.
The commission argued the “sweetheart” tax arrangements Ireland made with Apple between 1991 and 2015 allowed the tech giant to avoid tax on nearly all profits from sales of its products across the EU’s single market, booking the profits in Ireland rather than the country where the product was sold.
The EU is trying to change the rules of the game retroactively Related: Tech giants know where the power lies. It’s not with us | Rafael Behr It is wrong that my purchases are used to enrich the 1% rather than support the community in which Apple worksContinue reading...
Source: theguardian.com