Apple had 21billion dollars of cash on their balance sheet at the end of september last year. No problem for them to cough up.
They have massive cash reserves cos theyāre not paying any tax and Riggins think itās only right that they pay no tax.
Having read through this thread, and lots of other stuff, i have formed the opinion that noone really has any idea what will happen, nor the ramifications short, medium or long term of all this nonsense.
I include kenny, noonan et al in this.
The ramifications of this ruling will be decided by Apple, and the other multinationals, who will continue to dictate global financial policy just as they see fit. A mere inconvenience this.
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I donāt think so Flatty. Things will be very slow to change but there is increasing agreement that these lads are going to have to pay some tax somewhere. Countries are just beginning to grasp that nettle but it has to be a collaborative approach.
Exactly, so if we are gonna rely on multinationals to feed the Childer, we best keep them sweet.
Ireland has always had a broadminded, some might say two handed, or even two faced approach to collaboration if there is a few quid involved.
As of their Q3 this year, itās $18.2B. In addition, they had $210B in investments and marketable securities held offshore. Essentially what Apple do outside the US is generate massive profits, pay effectively no tax on those profits, and stash the cash in securities held offshore. The US Treasury would like to see the US tax code modified to entice Apple to repatriate their cash (wonāt be done unless corp tax rate is dropped drastically, its currently an insane 39%). The US Treasury is pissed at the EU for going after Appleās cash hoard before they can, itās as simple as that.
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Govt spin is working on you. They keep shouting āJOBSā as a reason to charge them no tax. Thereās no proof that they will up sticks. The minimum expected is that they pay the 12.5% like Irish companies. Irish companies provide āJOBSā too and donāt see them getting cosy deals. Legislation has been brought in to help smooth the heist. Just look at the Hedge Funds using Charity status as a ālegitā way of āavoidingā tax. Meanwhile Irish SMEās get fleeced with upward only rental agreements and increased levels of rates.
Itās a point of law, therefore up for discussion. If you arenāt willing to discuss then why are you here? Just so you can spew bile about NAMA, upward only rents and whatever tickles your fancy this month to whinge about.
Lets be honest here, youād whinge whatever Noonan did. If Noonan had rolled over youād be whinging when the inevitable world headlines were āIreland admits itās a tax havenā appeared. When the MNCs cut back here because of that, youāll be with your comrades in PBP and Sinn FĆ©in blaming the government. Cranks like yourself will never be happy.
Sadly, you are out of your depth here.
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Upward only rents again. 
Iām guessing youāre one of those clowns who signed one in 2006 and are crippled financially because of it.
āI donāt like bailouts except for when they benefit meā
This is very distasteful on the behalf of Sinn Fein.
Who purchased these apples and who thought it was a good idea to waste this food when there are thousands of children homeless.
Sinn Fein ahould be putting its focus on addressing the NAMA controversy in which it finds itself.
Iāve already said Iād love an independent Ireland standing on our own two feet. But weāre not progressive enough to do that and are happy to let in as many multinationals to dictate to us as possible. If thatās the course we want to persist on then we best lube up and let big business Fuck usā¦ Apple and other multinationals employ hundreds of thousands people in Ireland who all pump their wages back into the economy and pay tax on that wageā¦ Good enough for me- Why would you want to threaten that after the second worst economic downturn we have ever experienced? Half the nation just getting back on their feet and you want them back on the dole or in airports for the sake of a few Bob? Go way, you cunt.
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What like the OECD principles?
they are homeless not starving you chump
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Youāve made two points that are bullshit.
- Ireland did not give tax write offs to Apple. They did (I provided a link)
- MNCās pay 80% of Corp Tax, a stupid point. Apple pay 0.005% tax on profits accounted for in Ireland compared to the 12.5% by indigenous.
Noonan is a cunt. Iāll prove that to you too if you want. Plenty of links available.
Youāre the one whining about Apple having to pay tax on their profits. Jog on.
You donāt know what a writeoff is. This is embarrassing.
What you are proposing is actually turning Ireland into a complete tax haven, stealing US taxpayers money to pay for a few short term goodies for the taking class.
Your childish dislike of a politician seems to be behind most of this anger.
This whole thing is a push by the Commission to wrestle relevance back from the OECD.
You donāt know that they are not starving
Which is ridiculous of course.
I will post the link again for u.
āWe had a tax holiday for the first 10 years in Ireland. We paid no taxes to the Irish government,ā one former finance executive, who asked not to be named, said.
Noonan wants to appeal this ruling which could see a receipt of 13bn. Whatever about the technicalities about where the profit was earned or if we will have to distribute the 13bn, it was accounted for in Ireland by Apple and backed by legislation to suit Apple whereby they would pay 0.005% tax. Remember, this is the same country that nationalised private debt and we are saying no to 13bn, we donāt want the money thanks. Are you a fucking sadist?
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