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Ireland - $14B Apple Tax

Discussion in 'Too Hot for Swamp Gas' started by G8trGr8t, Oct 2, 2024.

  1. Oct 2, 2024 #1
    G8trGr8t

    G8trGr8t Premium Member

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    pretty nice windfall for Ireland. wonder if Apple is going to move their EU HQ out of Ireland now

    Ireland reveals how it plans to spend ‘transformational’ $14 billion Apple tax windfall (msn.com)

    • In a bumper pre-election budget speech, Irish Finance Minister Jack Chambers said the judgement from Europe's top court had provided the country with one-off revenue "that has the capacity to be transformational."
    • "It is this government's view that we should utilize these revenues to address the known challenges that we face in housing, energy, water and transport infrastructure," Chambers said.
    • His comments come three weeks after the ECJ ruled against Apple over its tax affairs in Ireland.
     
  2. Oct 2, 2024 #2
    l_boy

    l_boy 5500

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    I suspect it is a result of the international agreement to have a minimum corporate tax to keep companies like Apple artificially running profits through countries just to avoid taxes. If the decided to move, I’m not sure where to.
     
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  3. Oct 2, 2024 #3
    GatorNorth

    GatorNorth Premium Member Premium Member

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    The Daily did an interesting podcast a couple years back about how American companies offshore their income tax liability around the world once they max out of tax benefits in the US

    Someone like Google avoided several billion in US taxes by opening a PO Box in the Caymans or some other Caribbean tax haven.
     
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  4. Oct 3, 2024 #4
    G8trGr8t

    G8trGr8t Premium Member

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    these are the holes that need to be closed. do a repatriation at 20% and let everyone know what the new rules are and when they will start. It will be interesting to see what Ireland does with it and what real impacts it has in 5/10 years.

    If the big tech firms leave Ireland, that would sure help with housing prices.

    Northern Marianas is about the most friendly us entry / operation that I have seen, although the USVI has some interesting opportunities.
     
    Last edited: Oct 3, 2024