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Look, if I negotiate with the state of Texas that I will not pay taxes in the state of New York for doing business there and then get fined by the state of New
by jbmorgado 10y ago
Look, if I negotiate with the state of Texas that I will not pay taxes in the state of New York for doing business there and then get fined by the state of New York for not paying my due taxes there, you will say I was stupid and it suits me right.
It's exactly the same with what Apple did.
- sudhirj 10y agoMore like the federal government telling you ten years later that you and Texas shouldn't have made that concession to you and asking you to retroactively pay back taxes for the last ten years.
- yardie 10y agoThat is exactly what the IRS does. Do you think businesses want to keep 7 years of transactions? No, they do not. And if they fail an audit it increases to 10 years.
- ascorbic 10y agoIt's not quite the same. The tax isn't owed to the EU, it is owed to Ireland. As far as I'm aware this sort of deal is not only legal, but common in the U.S. The rules broken here are the ones against excessive "state aid". These are defined as selective advantages given to companies. The treaties forbid these as anti-competitive. This mainly applies to subsidies to individual companies, but also covers sweetheart tax deals like these that aren't open to all companies. They're welcome to set low corporate tax rates, but not to approve convoluted structures like these. Stuff like Tesla's deal with Nevada would be illegal in the EU.