Ireland’s parliament was recalled on Wednesday to discuss how it would deal with a €13bn tax windfall from Apple. Members of the Dail were expected to spend all day discussing a paper from the Department of Finance which says it will have to accept the cash from the tech giant. They will hear plans to put the money in escrow until the outcome of a possible appeal is known. The briefing paper has rejected the ruling from the European Union, despite the boost it would give the Irish economy, and said Ireland should help Apple fight the decision. if it wins, the money will be returned to Apple.
If the situation in Europe is to be that tax rulings can be revisited and set aside by the Commission even decades after the event, investors will simply not know where they stand when they locate in Europe.
Irish Taoiseach Enda Kenny
Apple was ordered to hand over the cash after the EU ruled Ireland was, in effect, granting state aid to the company by offering it such generous tax concessions. The tech giant, whose boss described the ruling as “maddening” and “total political crap”, was paying just 0.0005 per cent tax on its profits to the Irish government. As the Dail debate opened, Taoiseach Enda Kenny said the ruling would damage not just Ireland but other European countries and turn investors away. He insisted :“It is not true that Apple was provided with more favourable treatment than others. There was no preference shown. The law was applied fully and appropriately, and Apple paid its taxes due in Ireland.”
Would echo those in #Dail pointing out #Apple is not a “brass plate” company in Ireland, here in #Cork it is a very significant employer.
Twitter user Ken Curtin