Monday 30 June 2014

EU investigates tax evasion for Apple, Fiat and Starbucks

Europe Union has launched an investigation towards Apple, Fiat and Starbucks, regarding the large amount of tax they might have escaped due to tax forwarding true such offshore locations as Ireland for Apple, Netherlands for Starbucks and Luxemburg for Fiat.
Atho Apple paid only 2% tax on around 74 billion income made outside America, every thing seems to be legal due to Ireland having effective tax rate of less than 2%.

There are many more big corporation that use Ireland for some form of tax evasion outside America:

  • Facebook 
  • Amazon
  • Google
  • Microsoft

As previous investigations have stated that Apple didn't break any laws using offshore branches for tax evasion. The upcoming in investigations may still prove otherwise, bet until that we shall stick to the one of the American mottoes "Innocent until proven guilty".
Altho quite recently Google was charged by the Spanish government for some for of a tax scheme for around 500 million to 1 billion euros.
Furthermore as I have stated before, there are many more tax havens available and their are going to be functional at least for couple of upcoming decades. There is almost nothing that other countries can do to change tax laws for tax heavens. 

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