5 ms·

Because getting even <1% of Apple's, Google's, $FANGs EU wide tax revenue is a lot better than getting 0% of that revenue if they were to set their HQs in anoth

Because getting even <1% of Apple's, Google's, $FANGs EU wide tax revenue is a lot better than getting 0% of that revenue if they were to set their HQs in another EU country that would give them and even sweeter tax deal. And that's the problem right there. It's a constant race to the bottom between EU states where the EU taxpayers are the loosers and the corpos are the winners.

izacus 2y ago
Would it be really 0%? Is there any grounds for that? Those companies are based in Ireland due to IP law, not tax law.
- Rinzler89 2y ago
  Can't companies abuse the IP law to wash other profits as IP costs?
  - izacus 2y ago
    Yep, this is why they were based in Ireland - due to their IP law. Which isn't quite the same as 0% taxes.
    - zoobab 2y ago
      The Irish patent box was at 0% tax till 2015.
eesmith 2y ago
While <1% is correct it's over two magnitudes too large. Saying <0.01% would be more informative. "The EU head office said that Ireland granted such lavish tax breaks to Apple that the company's effective corporate tax rate on its European profits dropped from 1 percent in 2003 to a mere 0.005 percent in 2014." https://apnews.com/article/apple-european-union-tech-b1575db8c8c03e5ac8dcd32f94f7984f https://apnews.com/article/apple-european-union-tech-b1575db...