The Latest: Ireland says Apple hasn't dodged any taxes - WAOW - Newsline 9, Wausau News, Weather, Sports

The Latest: Ireland says Apple hasn't dodged any taxes

Posted:
  • NationalMore>>

  • Trump postpones Thursday's annual congressional picnic

    Trump postpones Thursday's annual congressional picnic

    Friday, June 22 2018 4:36 PM EDT2018-06-22 20:36:55 GMT
    President Donald Trump says he's postponing this week's picnic for members of Congress, saying the timing "doesn't feel right.".More >>
    President Donald Trump says he's postponing this week's picnic for members of Congress, saying the timing "doesn't feel right.".More >>
  • Lewandowski doubles down after comment about disabled child

    Lewandowski doubles down after comment about disabled child

    Friday, June 22 2018 4:36 PM EDT2018-06-22 20:36:46 GMT
    (AP Photo/Paul Sancya, File). FILE - In this April 28, 2018 file photo, President Donald Trump, left, watches as Corey Lewandowski, right, his former campaign manager for Trump's presidential campaign, speaks during a campaign rally in Washington Towns...(AP Photo/Paul Sancya, File). FILE - In this April 28, 2018 file photo, President Donald Trump, left, watches as Corey Lewandowski, right, his former campaign manager for Trump's presidential campaign, speaks during a campaign rally in Washington Towns...
    Corey Lewandowski doubles down on 'wah wah' comment on girl with Down's Syndrome.More >>
    Corey Lewandowski doubles down on 'wah wah' comment on girl with Down's Syndrome.More >>
  • Paul McCartney drives down memory lane for 'Carpool Karaoke'

    Paul McCartney drives down memory lane for 'Carpool Karaoke'

    Friday, June 22 2018 4:34 PM EDT2018-06-22 20:34:34 GMT
    (Photo by Rob Grabowski/Invision/AP, File). FILE - In this July 26, 2017, file photo, Paul McCartney performs on the One on One Tour at the Hollywood Casino Amphitheatre in Tinley Park, Ill. It was a magical mystery tour as McCartney led James Corden t...(Photo by Rob Grabowski/Invision/AP, File). FILE - In this July 26, 2017, file photo, Paul McCartney performs on the One on One Tour at the Hollywood Casino Amphitheatre in Tinley Park, Ill. It was a magical mystery tour as McCartney led James Corden t...
    It was a magical mystery tour as Paul McCartney led James Corden through his hometown during a "Carpool Karaoke" segment on CBS' "Late Late Show.".More >>
    It was a magical mystery tour as Paul McCartney led James Corden through his hometown during a "Carpool Karaoke" segment on CBS' "Late Late Show.".More >>

BRUSSELS (AP) -- The Latest on the European Union's decision that Apple must pay billions in back taxes:

------

1:05 p.m.

Ireland's tax collection agency, the Revenue Commissioners, insists that Apple hasn't dodged a penny of lawfully calculated tax in Ireland.

The Revenue Commissioner chairman, Niall Cody, says the overarching problem is "mismatches between different countries' tax rules." Whereas Ireland taxes only a multinational company's profits on sales within Ireland -- a country of barely 4.6 million and representing a tiny fraction of those companies' global business -- the United States often seeks to recoup tax on a U.S.-headquartered company's profits worldwide.

Cody said Apple's profits "that are not generated by their Irish branches -- such as profits from technology, design and marketing that are generated outside Ireland -- cannot be charged with Irish tax under Irish tax law."

He says the Revenue Commissioners applied the same Irish tax rules to Apple as to around 1,000 other multinationals, most of them American, with bases in Ireland. He says: "Full tax due was paid in accordance with the law."

------

12:45 p.m.

Irish Finance Minister Michael Noonan has rejected the European Commission's ruling and says Ireland will appeal the judgment, insisting that Ireland's tax rules were transparent and straightforward.

He has rejected findings that Ireland cut an especially generous tax-avoidance deal to boost Apple's investments in Ireland, where the company employs 5,500 and plans to expand further.

Noonan said Tuesday in a statement issued minutes after the judgment: "I disagree profoundly with the commission's decision. Our tax system is founded on the strict application of the law ... without exception. The decision leaves me with no choice but to seek Cabinet approval to appeal the decision before the European courts."

He accused European regulators of trying to undermine the integrity of Ireland's tax system and subverting rights reserved for sovereign EU states. He said a successful appeal, which could take years, would "provide tax certainty to business."

Ireland's Cabinet will meet Wednesday to confirm plans to appeal the judgment.

Powered by Frankly