Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

September 17, 2019 12:10 am

Apple Takes On EU's Vestager In Record $14 Billion Tax Fight

An anonymous reader quotes a report from Bloomberg: Apple fights the world's biggest tax case in a quiet courtroom this week, trying to rein in the European Union's powerful antitrust chief ahead of a potential new crackdown on internet giants. The iPhone maker can tell the EU General Court in Luxembourg that it's the world's biggest taxpayer. But that's not enough for EU Competition Commissioner Margrethe Vestager who said in a 2016 ruling that Apple's tax deals with Ireland allowed the company to pay far less than other businesses. The court must now weigh whether regulators were right to levy a record 13 billion-euro ($14.4 billion) tax bill. A court ruling, likely to take months, could empower or halt Vestager's tax probes, which are now centering on fiscal deals done by Amazon.com and Alphabet. She's also been tasked with coming up with a "fair European tax" by the end of 2020 if global efforts to reform digital taxation don't make progress. Vestager showed her determination to fight the tax cases to the end by opening new probes into 39 companies' tax deals with Belgium on Monday. The move addresses criticism by the same court handling the Apple challenge. A February judgment threw out her 2016 order for them to pay back about 800 million euros. At the same time she's pushing for "fair international tax rules so that digitization doesn't allow companies to avoid paying their fair share of tax," according to a speech to German ambassadors last month. She urged them to use "our influence to build an international environment that helps us reach our goals" in talks on a new global agreement to tax technology firms. After the 2016 EU order, Apple CEO Tim Cook blasted the EU move as "total political crap." "The company's legal challenge claims the EU wrongly targeted profits that should be taxed in the U.S. and 'retroactively changed the rules' on how global authorities calculate what's owed to them," reports Bloomberg.

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot