• EU Confirms Apple Tax Evasion Investigation

    As rumored earlier this week and covered Tuesday by MMi, the European Union finally announced this morning new tax evasion investigations of Apple.

    Along with Fiat and Starbucks, Apple will be probed and prodded for its alleged tax shielding tactics in Europe. Although Apple and the other corporations are essentially innocent until proven guilty, serious scrutiny awaits Apple's headquarters in Cork, Ireland.

    So is Apple among the multinational companies going too far to capitalize on taxation loopholes? It looks like we're about to find out.

    According to US News & World Report, EU antitrust commissioner Joaquin Almunia indicates that a "preliminary probe by his office has found the arrangements are improper, though the companies as well as the countries involved Ireland, the Netherlands and Luxembourg must be given a chance to respond."

    "We have reason to believe at this stage that indeed in these specific cases the national authorities have (failed) to tax part of these multinationals' profits," Almunia said Wednesday. "When public budgets are tight and citizens are asked to make efforts to deal with the consequences of the (financial) crisis, it cannot be accepted that large multinationals do not pay their fair share of taxes."

    Source: US News & World Report
    This article was originally published in forum thread: EU Confirms Apple Tax Evasion Investigation started by Michael Essany View original post
    Comments 3 Comments
    1. bigboyz's Avatar
      bigboyz -
      So, they are going to try to make an example out of Apple, when countless big companies do the very same. Business' in glass houses shouldn't throw stones. If you go after one, go after all of them.
    1. Carvensno's Avatar
      Carvensno -
      Add Google to the list with other fortune 500 companies. They do it, and they all end in Ireland. There is no fixing the loop holes either, because congress made the loop holes. Guess what too? A lot of the people in congress are on the boards of these fortune 500 companies. Because of these loop holes, the US is losing out on 100's of billions dollars in lost fed taxes.

      Watched 20/20 or Dateline one night about 2 yrs ago and they followed Google's paper trail. Ended at a little office in Ireland that has about 10-15 employees doing paperwork. The building wasn't even labeled with Google's logo. Just a address plaque and the office was small maybe the size of a Starbucks.
    1. swing70's Avatar
      swing70 -
      Thes people making these sensationalized claims about Apple and its tax practices forget that using the tax code itself to ensure that they are paying as little as possible, loopholes or not, is not illegal. Also, as a company, Apple has a responsibility to itself and shareholders to be the strongest and most profitable company it can be.
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