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0 pointscloudjacker9y ago0 comments

using case law that didn't even exist at the time

You know its bad when the US Treasury department even disagrees with the EU commission

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5 comments · 2 top-level

hackuser9y ago· 3 in thread

> You know its bad when the US Treasury department even disagrees with the EU commission

The US Treasury may be biased in favor of their constituent, whose CEO recently claimed is the largest taxpayer in the country,[0] and other constituents in similar circumstances.

[0] http://www.washingtonpost.com/sf/business/wp/2016/08/13/2016...

mpweiher9y ago

Not just that. Once the income has been taxed outside the US, it can no longer be taxed by the US.

And so far, the US Treasury considered this income as "not taxed", meaning it would have been taxed at the corporate US tax rate when and if moved to the US.

Which is why Apple hasn't moved that money to the US, and has something like $190 billion sitting outside the US.

So the treasury is being extremely disingenuous here, they just want to be the ones to tax this income.

nodamage9y ago

> Not just that. Once the income has been taxed outside the US, it can no longer be taxed by the US.

Just to clarify, money that is taxed outside the US gives you a credit towards your US taxes. So if the money is taxed at 2% in Ireland, and then repatriated into the US, they would still be taxed on the difference between the 35% US corporate tax rate and the 2% they've already paid. Now if Apple has to pay Ireland 12.5% instead of the 2% it's paying now, the US would still get the remaining 22.5%.

cloudjackerOP9y ago

Which is their prerogative....

You can't be on the side of "pay taxes for the sake of paying taxes because..... society and fairness!" without having an opinion on who and what your expropriated productivity is supporting

Nobody at Apple or the Treasury Dept said that pledge for 13 years of their life to support roads in Ireland

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icebraining9y ago

Fiscal State Aid has been explicitly illegal since the 90s. Why would case law be needed?

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