Following up on yesterday's post, EU Orders Apple To Repay $14.5 Billion In Irish Tax Breaks:
New York Times editorial, Apple, Congress and the Missing Taxes:
Apple and the United States are crying foul over the ruling in Europe that Apple received illegal tax breaks from Ireland and must hand over 13 billion euros ($14.5 billion), a record tax penalty in Europe. But Apple and the United States have only themselves to blame for the situation.
Apple has engaged in increasingly aggressive tax avoidance for at least a decade, including stashing some $100 billion in Ireland without paying taxes on much of it anywhere in the world, according to a Senate investigation in 2013. In a display of arrogance, the company seemed to believe that its arrangements in a known tax haven like Ireland would never be deemed illegal — even as European regulators cracked down in similar cases against such multinational corporations as Starbucks, Amazon, Fiat and the German chemical giant BASF.
Congress, for its part, has sat idly by as American corporations have indulged in increasingly intricate forms of tax avoidance made possible by the interplay of an outmoded corporate tax code and modern globalized finance. The biggest tax dodge in need of reform involves deferral, in which American companies can defer paying taxes on foreign-held profits until those sums are repatriated. Initially, deferral was a convenience for multinationals, as they sought investment opportunities abroad. Today, it is the taproot of global tax avoidance.
Bloomberg View editorial, The EU's Apple Ruling Is a Victory for Tax Confusion:
The European Commission’s decision to impose a tax bill of 13 billion euros ($14.5 billion) on Apple is unjust and unnecessary. And the harm is not confined to a single company: The ruling has cast a cloud of uncertainty over Europe’s corporate-tax rules, potentially affecting all multinational investors.
Wall Street Journal editorial, Europe’s Apple Tax Ambush:
Even by the usual Brussels standards of economic malpractice, Tuesday’s €13 billion ($14.5 billion) tax assault on Apple is something to behold. The European Commission decided that Dublin’s application of Irish tax law to an American company violated European antitrust rules. Orwell would understand.
- Jared Bernstein, If We Refuse to Go After BIG Tax Avoiders, Then We Have No Standing to Stop Others From Doing So
- Bloomberg, Apple’s $14.5 Billion EU Bill May Press U.S. on Tax Overhaul
- Bloomberg, EU's Apple Tax May Be a Boon for the U.K.
- Sam Brunson (Loyola-Chicago), Ireland, Apple, and State Aid
- Business Insider, Apple's Tax Bill Is Going to Start Getting Bigger
- Adam Chodorow (Arizona State), The EU Is on a Crusade to Make Apple Pay More Taxes. There’s a Bigger Problem It Can’t Fix.
- CNBC, Apple's Easy Days of Single-Digit Tax Rates Are Over, Professor Says
- The Guardian, Silicon Valley Outraged by Apple Tax Bill: 'Europe Is Changing Rules Retroactively
- The Hill, 5 Takeaways From the EU's Blockbuster Ruling Against Apple
- Los Angeles Times, Apple's $14.5 Billion EU Tax Bill Highlights Overseas Earnings Hoard
- Marketplace, Why the US Is on Apple's Side in EU Decision
- New York Times, Fact-Checking Apple’s Claims on E.U. Tax Ruling
- New York Times, Yesterday, Outraged by Apple’s Tax Dodge. Today, by Its Tax Bill.
- Newsweek, Closed for Business? Why Europe's Apple Tax Demand Sets a Troubling Precedent
- NPR, Apple Tax Ruling Presents Broader Implications For U.S. Companies
- Quartz, The EU Is All But Inviting the US to Claw Back a Share of Apple’s Tax Debt
- Reuters, EU Ruling on Apple Stirs Calls for U.S. Tax Reform
- Reuters, U.S. Accuses EU of Grabbing Tax Revenues With Apple Decision
- Reuters, U.S. Slams EU, But Apple Tax Demand First Issued in Washington
- Daniel Shaviro (NYU), The European Commission’s Ruling on Apple and Ireland
- Tax Justice Blog, EU Ruling on Apple’s Egregious Tax Avoidance Is Welcome News, But $14.5 Billion Is Only a Fraction of the Story.
- Tax Policy Blog, The Growing Uncertainty in the International Tax System
- TaxVox, Could the EU’s Apple Tax Reboot Corporate Tax Reform in the US?
- Wall Street Journal, After Apple Ruling, Amazon and McDonald’s Are EU’s Next Targets
- Wall Street Journal, Apple’s Tax in Ireland
- Wall Street Journal, EU Looks to Rein In Alleged Excesses of U.S. Tech Giants
- Wall Street Journal, Treasury Secretary Lew Criticizes EU Decision to Issue Apple $14.5 Billion Tax Bill
- Washington Post, Apple’s $14.5 Billion EU Bill May Press U.S. on Tax Overhaul