
Ukraine's Zelenskiy discusses peace moves with Papal envoy
KYIV (Reuters) -President Volodymyr Zelenskiy urged the Vatican on Tuesday to contribute to the implementation of a Ukrainian peace plan
2023-06-07 00:39

Everything Amazon Announced at Its Fall Event: Echo, Fire TV, Ring, and More
Ahead of the holiday shopping season, Amazon today unveiled a refreshed lineup of smart home
2023-09-21 05:14

Pep Guardiola on key positive from Man City's 4-4 draw with Chelsea
Pep Guardiola has insisted that Manchester City's 4-4 draw with Chelsea at Stamford Bridge is proof that his side have not gone "soft" after treble win.
2023-11-13 05:15

Ireland and Apple await major development in long-running EU tax dispute
EU lawmakers are awaiting an announcement which is seen as major step in the drawn-out dispute over tax arrangements between technology giant Apple and Ireland. The advocate general at the European Court of Justice is to issue an opinion on Friday morning about whether Apple will be forced to pay more than 13 billion euro in back taxes to Ireland. While the opinion of the advocate general is non-binding, it is usually followed by the court and therefore could have significant implications for corporation tax bills. Ireland had fought the European Commission over the matter due to concerns over an intrusion on Irish sovereignty and potential impacts to investment in the country. There was no sweetheart deal Finance Minister Michael McGrath In 2016, following an EU investigation which launched in 2014, the commission concluded that Ireland gave undue tax benefits of 13.1 billion euro to Apple, which is illegal under EU state aid rules. The commission said that tax rulings issued by Ireland to Apple in 1991 and 1997 substantially and artificially lowered the tax paid by the iPhone manufacturer in the country since 1991, in a way which did not correspond to economic reality. As a result, competition commissioner Margrethe Vestager said Ireland had granted illegal tax benefits which enabled it to pay substantially less tax than other business over many years. The investigation found that Apple had paid an effective corporate tax rate of 1% on its European profits in 2003, down to 0.005% in 2014 – 50 euro for every one million euro of profit. The process involved recording almost all sales profits of two Irish incorporated companies, which the commission said only existed on paper. The companies, fully owned by Apple, held the rights to use the firm’s intellectual property to manufacture and sell its products outside North and South America. The commission said this situation allowed Apple to avoid taxation on almost all profits generated by sales of its products in the entire EU single market. It said this was due to Apple’s decision to record all sales in Ireland rather than in the countries where the products were sold. The findings were disputed by the Irish State – which said all tax owed had been collected – and Apple, which had come under scrutiny in the US for its tax practices years earlier. At the time, Apple’s chief executive, Tim Cook, branded the EU findings as “political crap”, maddening and untrue. The Irish Government, which was also used to defending a comparatively low 12.5% corporation tax rate, said Europe had overstepped the mark in attempting to dictate tax laws and enforce retrospective taxes decades later. Ireland and Apple fought the commission on the matter and in July 2020, the General Court of the European Union annulled the decision. However, the commission subsequently appealed the decision to the European Court of Justice with Ms Vestager saying the lower court’s ruling contained “errors of law”. The European Court of Justice’s advocate general is to give a legal opinion on the dispute ahead of the court’s final decision. That decision is expected next year and will have significant implications for how member states grant tax breaks to major firms. Apple has argued it has been paying tax on the profits in question in the US, while Ireland has seen it necessary to defend its reputation on taxation issues to protect foreign direct investment. Last weekend, Finance Minister Michael McGrath said the advocate general’s opinion will be “significant” but added it is not the final step in the process. Mr McGrath said: “We are confident in our position in respect of the Apple case. We take encouragement from the findings they have made so far, but it is a significant day.” He added: “There was no sweetheart deal. This was the application of Ireland’s statutory corporation tax code.” In the interim, the 13.1 billion euro has been held in an escrow fund pending the outcome of the case. The money, with interest, is due to be entered into the Irish exchequer if the commission wins the case. However, other member states may make claims that they are owed some of the money. If the commission loses the appeal, the large sum will be returned to Apple.
2023-11-09 10:45

Children’s Hospital Los Angeles: The Best Pediatric Care in California and the Pacific Region of the United States
LOS ANGELES--(BUSINESS WIRE)--Jun 21, 2023--
2023-06-21 12:31

Who is playing Monday Night Football in Week 5?
A big-name star is set to square off with his old team for the first time on Monday Night Football in Week 5.
2023-10-09 20:00

Italy may have dodged a 'pasta strike' but food inflation is still high. Here's why
Italians were supposed to be on a "pasta strike" this week but it was called off after prices for the national staple started to fall. Zoom out, though, and global food prices are still far higher than a year ago, despite precipitous drops in the cost of key raw materials.
2023-06-29 22:35

USMNT rumors: Robinson to Marseille, Adams to Arsenal, Musah to Sassuolo
Today's USMNT rumors include Antonee Robinson being linked with Marseille, Tyler Adams could be an option for Arsenal and Sassuolo targeting Yunus Musah.USMNT rumors: Antonee Robinson to MarseilleAntonee Robinson was a key player for Fulham last season, as the Cottagers finished 10th in the...
2023-06-23 20:35

The best keyboards for your home office
The reality of WFH is different for everyone. Hours, deadlines, the work-life balance. It's all
2023-09-28 17:43

Nigel Farage and Nella Rose clash over cultural appropriation on I'm A Celeb
Nella Rose and Nigel Farage appeared to butt heads during last night's I'm A Celebrity (28 November), when the YouTuber attempted to school the former UKIP leader on cultural appropriation. The discussion came about after Nella spotted Fred Sirieix' pronunciation of 'water', and Fargae chimed in to say you "can't win" when it comes to what you can and can't say. "You go to a fancy dress party, dressed as something, and now the press will say it’s cultural appropriation", he continued. Nella responded: "Well yeah because you can’t use somebody’s culture as a fancy dress." Sign up to our new free Indy100 weekly newsletter
2023-11-29 20:28

Internet slams Joe Rogan for inflammatory comments on Dylan Mulvaney
'I bet she earns more than him,' a social media user wrote about what triggered Rogan's latest rant against Mulvaney
2023-07-04 16:01

PBOC governor says will keep monetary policy accommodative, expects inflation to pick up
HONG KONG People's Bank of China (PBOC) Governor Pan Gongsheng said on Tuesday the central bank would keep
2023-11-28 12:29
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