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Interesting that the US is backing Apple's tax shelter scheme, which isn't to say that EC isn't grasping way beyond any reasonable measure of where it should go

by nxzero 10y ago

Interesting that the US is backing Apple's tax shelter scheme, which isn't to say that EC isn't grasping way beyond any reasonable measure of where it should go.

r00fus 10y ago
If you think of Apple as simply a bellweather, and assume that the government is coopted by regulatory capture [1], it makes a lot more sense - they're just doing their masters' bidding. Most US-based corporations who benefit from this scheme don't want their Double Irish with a Dutch Sandwich going away anytime soon [2]. [1] https://en.wikipedia.org/wiki/Regulatory_capture https://en.wikipedia.org/wiki/Regulatory_capture [2] http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp http://www.investopedia.com/terms/d/double-irish-with-a-dutc...
numbsafari 10y ago
Harder for the US to get its hands on the money if the EC has already taken it, no?
ChuckMcM 10y ago
I think it is hilariously hypocritical coming from a tax authority that wants to collect taxes on income their citizens earned while working outside of their borders. Talk about trying to be a 'supra-national tax authority'. In some ways there is a fight going on with national governments telling corporations to start putting their hoarded cash to work in the various economies or else we'll take it and put it to work in the economies. In a number of dystopian futures there is an event in the past called the "corporate wars" and this kinda feels a bit like something you might call a corporate war. [1] "Do I Owe Taxes On My Foreign Income? U.S. citizens and resident aliens earning over a certain amount of income from foreign sources may have to pay income taxes on the foreign income." -- http://www.efile.com/foreign-earned-income-and-income-exclusion/ http://www.efile.com/foreign-earned-income-and-income-exclus...
rtkwe 10y ago
Not too surprising. One interpretation of the government's role is to get the best deals for the citizens and companies under it's control. Also if the US ever wants to get that money back into the US via repatriation or by imposing taxes on overseas profits it's hard to do when it's already in the EU coffers.

by nxzero 10y ago

Interesting that the US is backing Apple's tax shelter scheme, which isn't to say that EC isn't grasping way beyond any reasonable measure of where it should go.

r00fus 10y ago

If you think of Apple as simply a bellweather, and assume that the government is coopted by regulatory capture [1], it makes a lot more sense - they're just doing their masters' bidding. Most US-based corporations who benefit from this scheme don't want their Double Irish with a Dutch Sandwich going away anytime soon [2]. [1] https://en.wikipedia.org/wiki/Regulatory_capture https://en.wikipedia.org/wiki/Regulatory_capture [2] http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp http://www.investopedia.com/terms/d/double-irish-with-a-dutc...

numbsafari 10y ago

Harder for the US to get its hands on the money if the EC has already taken it, no?

ChuckMcM 10y ago

I think it is hilariously hypocritical coming from a tax authority that wants to collect taxes on income their citizens earned while working outside of their borders. Talk about trying to be a 'supra-national tax authority'. In some ways there is a fight going on with national governments telling corporations to start putting their hoarded cash to work in the various economies or else we'll take it and put it to work in the economies. In a number of dystopian futures there is an event in the past called the "corporate wars" and this kinda feels a bit like something you might call a corporate war. [1] "Do I Owe Taxes On My Foreign Income? U.S. citizens and resident aliens earning over a certain amount of income from foreign sources may have to pay income taxes on the foreign income." -- http://www.efile.com/foreign-earned-income-and-income-exclusion/ http://www.efile.com/foreign-earned-income-and-income-exclus...

rtkwe 10y ago

Not too surprising. One interpretation of the government's role is to get the best deals for the citizens and companies under it's control. Also if the US ever wants to get that money back into the US via repatriation or by imposing taxes on overseas profits it's hard to do when it's already in the EU coffers.