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Fact-Checking Apple’s Claims on E.U. Tax Ruling
Fact checking Apple CEO Tim Cook's statements on the EU Commission ruling for $13 billion in back taxes, shows that CEO Tim Cook's statement that "we never asked for, nor did we receive any special deals," is not true. Ireland let Apple determine what it would pay in tax, and Apple had the benefit of loopholes in Irish tax laws, the fact check by experts shows here. Apple's Cook also says it would hurt investment and jobs in Ireland. Another NYT article showed that the entire healthcare budget of Ireland would be covered by the $13 billion, and 66% of its budget for social support services to the public. Apple has 22,000 employees in Europe and 6000 in Ireland in 2016. Based on the $13 billion owed in taxes, for every job in Ireland the cost to Ireland is 2.17 million euros, and for every job in the EU the cost is 590,000 euros. Apple could turn around and locate in some other place, other than Ireland, in which case Ireland does not get the 6000 jobs. This is Ireland's incentive to give Apple tax benefits. Only if all EU countries had common tax laws would it be possible to avoid this situation, and generate much needed tax revenues at a time of cuts in public spending in healthcare, education, and social services, and invest in infrastructure, worker retraining. The alternative is for the EU to look at other remedies. This is what the EU Commissioner Vestager did when she announced that this was a state subsidy and illegal under EU rules. Because the appeal by Apple goes to the EU Courts the appeal is difficult say legal experts. The EU courts look at the legal aspects of the ruling, was it justified, not at the overall aspect of the ruling by Vestager, as EU Competition Commissioner. This may be why there is so much outcry from Apple, and other digital companies.
Fact checking the statements by Apple CEO Tim Cook on the European Union Commission's ruling of $13 billion in back taxes owed
08/31/2016
NYT's fact check on Apple CEO's letter to the EU Commission. The appeal say legal experts is not as likely to lead to a reversal of the ruling as Tim Cook says it would be, because of the way the EU courts operate based only on looking at the legal aspects of the EU's authority, not the overall case. Public opinion is also shifting rapidly in favor of corporations paying their fair share of taxes, and corporations are lagging in their understanding and grasp of public opinion- the extent to which the middle and working classes have slipped in the last decade of financial crises and shifting of jobs overseas, what Theresa May, the British prime minister has called "burning injustice." Two thirds of Ireland's social services budget and its entire national health service budget is what the $13 billion pays for. During 2009-2013 Ireland suffered a severe crisis with deep cuts in public spending, and rising poverty.
Grouped Articles
Fact-Checking Apple’s Claims on E.U. Tax Ruling
The New York Times 08/31/2016
Apple's cash pile is nearing $250 billion. What would you do with that much money?
WSJ 05/01/2017
Apple's cash holdings in foreign countries and in offshore tax havens
10/28/2010
Grouped Articles
Apple Avoided Taxes on Overseas Billions, Senate Panel Finds
Wall Street Journal 05/21/2013
Appleâs Web of Tax Shelters Saved It Billions, Panel Finds
New York Times 05/20/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Wall Street Journal 05/22/2013
Apple's Tax Strategy Aims at Low-Tax States and Nations
New York Times 04/28/2012
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
Public opinion in Europe on tax avoidance by Apple, Google, and other large digital companies
10/28/2010
Grouped Articles
Global Firms' Tax Practices Draw U.K. Ire
Wall Street Journal 05/23/2013
New York Times 05/23/2013
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/2013
Apple's tax arrangements: Biting criticism
Economist 05/27/2013
Steven Pearlstein - Google, tax dodger extraordinaire
Washington Post 10/28/2010
How corporate America is losing the debate on taxes
Washington Post 03/05/2014
The European Union Commission's ruling that Ireland must recover 13 billon in back taxes from Apple following Apple's astonishingly low tax rate of .005% for 2013 in Europe
08/30/2016
Grouped Articles
Apple should repay Ireland 13bn euros, European Commission rules - BBC News
BBC News 08/30/2016
Apple must now pay its taxes. This is a vindication of protest | Owen Jones
The Guardian 08/30/2016
Apple ordered to pay up to €13bn after EU rules Ireland broke state aid laws
The Guardian 08/30/2016
Apple owes $14.5 billion in back taxes, European authorities say
Washington Post 08/30/2016
Why U.S. taxpayers may pay most of the bill for Apple’s $14.5 billion tax judgment
Washington Post 08/30/2016
EU’s Apple Tax Hit: Ire In Ireland, Confusion Elsewhere
WSJ 08/30/2016
Tax avoidance of digital companies and new EU regulations
10/28/2010
Grouped Articles
Wall Street Journal 05/22/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Apple's Tax Strategy Aims at Low-Tax States and Nations
New York Times 04/28/2012
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
Global Firms' Tax Practices Draw U.K. Ire
Wall Street Journal 05/23/2013
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/2013
Public perceptions of Pfizer's strategies in pursuing the acquisition of Astra-Zeneca- tax avoidance at a time of large government deficits and cuts in public services
05/23/2014
For acquisitions to succeed and be a win-win for both companies there have to be ways in which the productivity of capital can be increased through creative endeavors, new products, and savings, beyond maneouvres around tax laws. An editorial in the NYT makes this point.
Grouped Articles
Pfizer’s Ploy and the Porous Tax Laws
New York Times 05/23/2014
Spurned by AstraZeneca, Pfizer Walks Away
Wall Street Journal 05/27/2014
In Medtronic's Deal for Covidien, an Emphasis on Tax Savings
New York Times 06/16/2014
Medical Merger Part of 'Tax Inversion' Wave
Wall Street Journal 06/17/2014
Why Allergan Is a Cure for What Ails Pfizer
Wall Street Journal 10/30/2015
Apple owes $14.5 billion in back taxes, European authorities say
Washington Post 08/30/2016
Angel Gurria, Secretary General of OECD, on the loss of three times of foreign aid for developing countries though tax evasion using tax havens
04/08/2016
Poorer developing countries have a large informal economy which does not generate tax revenue. These countries depend on foreign investment, taxes on transactions and the small formal economy to generate tax revenue. Angel Gurria, head of the OECD, says ppor countries lose three times what they get in foreign aid because of tax evasion. Estimates show that about half of foreign investment coming to poor countries comes through tax havens. Typical is a transaction by Vodafone that bought Hutchison Essar in India in an offshore to offshore transaction because both companies are based in tax havens in places like the Netherlands and Mauritius. If this was not the case it would generate $2.2 billion in tax revenues for India, about what it costs to provide subsidized meals to schoolchildren in India, according to Max Bearak of the Washington Post. The Panama Papers Scandal in 2016 revived the issue of tax havens, and tax evasion, that was a major issue in the media coverage following the 2008 financial crisis.
Grouped Articles
How global tax evasion keeps poor countries poor - The Washington Post
Washington Post 04/08/2016
Fact-Checking Apple’s Claims on E.U. Tax Ruling
The New York Times 08/31/2016
Apple's image after hearings in Congress on tax avoidance, following criticism for factory conditions in China
10/28/2010
Grouped Articles
Wall Street Journal 05/22/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Apple's Tax Strategy Aims at Low-Tax States and Nations
New York Times 04/28/2012
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
Global Firms' Tax Practices Draw U.K. Ire
Wall Street Journal 05/23/2013
New York Times 05/23/2013
Google's U.S. federal tax liability of 18%. GE's low tax rate.
10/28/2010
The US tax rate for corporations at 35%, but the $1.5 billion federal tax liability of Google comes to an effective 18% tax rate. GE's consolidated tax rate of 11.6% from 2005 to 2009. This is also true of other large American companies, raising questions of fairness at a time of budget cuts in education, Medicaid and Medicare. Many U.S. companies, such as Apple, also use offshore tax havens to protect profits from taxes.
Grouped Articles
Apple Avoided Taxes on Overseas Billions, Senate Panel Finds
Wall Street Journal 05/21/2013
Appleâs Web of Tax Shelters Saved It Billions, Panel Finds
New York Times 05/20/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Wall Street Journal 05/22/2013
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/2013
Apple's low taxes using its base in Ireland
09/30/2014
Grouped Articles
Europeans Accuse Ireland of Giving Apple Illegal Tax Break
New York Times 09/30/2014
Ireland to Phase Out ‘Double Irish’ Tax Break Used by Tech Giants
New York Times 10/14/2014
Apple should repay Ireland 13bn euros, European Commission rules - BBC News
BBC News 08/30/2016
Apple must now pay its taxes. This is a vindication of protest | Owen Jones
The Guardian 08/30/2016
Apple ordered to pay up to €13bn after EU rules Ireland broke state aid laws
The Guardian 08/30/2016
Apple owes $14.5 billion in back taxes, European authorities say
Washington Post 08/30/2016
France challenges Google's tax arrangements in Europe
10/09/2014
Grouped Articles
Google’s Tax Setup Faces French Challenge
Wall Street Journal 10/09/2014
Inside the U.S. Antitrust Probe of Google
Wall Street Journal 03/20/2015
Theresa May Is Poised to Be Britain’s Next Prime Minister
The New York Times 07/11/2016
Apple should repay Ireland 13bn euros, European Commission rules - BBC News
BBC News 08/30/2016
Yesterday, Outraged by Apple’s Tax Dodge. Today, by Its Tax Bill.
The New York Times 08/31/2016
Fact-Checking Apple’s Claims on E.U. Tax Ruling
The New York Times 08/31/2016
Ireland's low tax rates and tax avoidance by digital companies
10/28/2010
Grouped Articles
Wall Street Journal 05/22/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Apple's Tax Strategy Aims at Low-Tax States and Nations
New York Times 04/28/2012
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
Global Firms' Tax Practices Draw U.K. Ire
Wall Street Journal 05/23/2013
New York Times 05/23/2013
What tax havens are costing the U.S. and poor developing countries each year- $40 billion for the U.S. Treasury, 3-10 times foreign aid for poor countires
04/08/2016
The $40 billion estimate of loss to the U.S. Treasury from tax havens is by Robert Morgenthau, U.S. District Attorney for Manhattan. The 3-10 times foreign aid estimate of loss in tax revenues for poor countries dependent on such taxes because of large informal economies, is from Angel Gurria, head of OECD for three times, and as high as ten times from the Tax Justice Network. This means poor infrastructure development, fewer roads and less spent on education and healthcare in poor countries with desperate needs especially in Africa and parts of northern India, Pakistan. Its not just poor countries, as the U.S. also needs the money to replace older crumbling infrastructure, an issue in the 2016 U.S. presidential campaign
Grouped Articles
How global tax evasion keeps poor countries poor - The Washington Post
Washington Post 04/08/2016
The New York Times 08/12/2016
Fact-Checking Apple’s Claims on E.U. Tax Ruling
The New York Times 08/31/2016
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