Tax Avoider Apple, Pleads For Leniency
Apple who for decades have raked billions of dollars out of the Australian market while using schemes to avoid paying tax, is confident of cutting a deal with the European Union a market where they were also nobbled for not paying a fair amount of tax.
Chief Executive Tim Cook’s comments came as the company battles the EU after the bloc imposed a tax bill of as much $20 Billion plus interest on the company,
The EU claimes Ireland illegally gave it special treatment that lowered Apple’s liabilities. Apple, which has appealed the decision, is the largest taxpayer in the world and has followed all tax laws, Cook said. Ireland also said it did nothing wrong.
Cook said the debate on taxing “complex” multinational companies needs to take place at a global level. The OECD is meeting with countries this year about a plan to overhaul the tax system and address concerns that these firms, particularly tech giants, aren’t paying taxes in the right amounts or to the right countries.
Cook was in Dublin to receive an award from Irish Prime Minister Leo Varadkar for his company’s contribution to the nation’s economy since it set up a base there in the 1980s.
Cook said he’s “hopeful and optimistic” the EU intergovernmental Organization for Economic Co-Operation and Development will strike a deal on corporation tax, as his company battles the European Union over a tax bill.