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Tag Archives: tax

Ireland to appeal EU’s €13 billion tax ruling against Apple

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There has been a lot of controversy surrounding Apple and its tax payment strategy in Europe, which involves routeing money through Ireland for lower tax rates. Back in August, the European Commission ended its three-year investigation into the case, concluding that Apple should still owe around 13 billion euros in …

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Tim Cook responds to EU tax ruling, thinks it’ll be reversed

Earlier this morning, we learned that the European Union had wrapped up its three-year long investigation into Apple’s tax payment strategy in Ireland, concluding that Apple should still pay around 13 billion euros in taxes for earnings made between 2003 and 2014. This is obviously quite big news and it didn’t …

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France: Google won’t get a tax deal

One of the biggest financial scandals in the UK earlier this year, was when Google managed to negotiate paying around 10 per cent of the tax it owed the British government. France however isn’t so keen to see Google skip out on back taxes and following a raid on the …

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Facebook will start paying more tax in the UK

Facebook, like other major tech firms in the UK is often accused of paying far too little corporation tax. In 2014, despite making more than £840 million through UK advertising sales, it paid just £4,300 for the entire year. That’s set to change moving forward, as Facebook is changing its …

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Google to be quizzed over HMRC back-tax deal

Google is set to be questioned by a parliamentary committee about a back-tax deal it struck with Her Majesty’s Revenue and Customs (HMRC), where it agreed to pay £130 million to cover claims of under-taxation from the past 10 years. Several MPs have since called the deal “cosy,” and want …

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Apple agrees to pay out in Italy tax office deal

It seems that Apple and the Italian Tax Office have managed to come to a settlement agreement following a tax fraud investigation. Between 2008 and 2013, the Italian tax office believed that Apple owed around €880 million in corporation tax through its Italian subsidiary ‘Apple Italia’, but the company had …

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Australia to go after tech giants for tax avoidance

Following on from the UK’s general election taking place last week, many people have their eyes on the re-elected prime-minister David Cameron, to see if (among other things) he will make good on promises he’s made in the past that tech firms dodging British tax law would be strapped down …

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Music industry wants tax for music copying

Chances are, unless you were reasonably well versed in copyright law, you weren’t aware that until very recently, it was actually illegal for you to copy media you owned. That’s right, taking that CD and ripping it to your PC, or taking songs you’ve downloaded and putting them on an …

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10,000 Hungarians protest internet tax

We reported last week that the Hungarian government had announced a new tax set to be brought into effect in 2015, that would see individuals and corporations taxed by the gigabyte they used. No measly sum either, but around £0.40 per GB. Due to public upheaval it later added a …

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Update: Hungary may start taxing the internet by the GB

Update: And just like that, the government has relented. After pressure from the press and public, it’s now announced that while the tax will still be implemented, there will be a cap on it. For individuals, no one will have to pay more than 700 forints (£1.8), while businesses will …

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Google criticised by Obama over EU tax avoidance

Tax avoidance is a difficult topic, not least because anyone that’s ever filed a tax return through an accountant is likely engaged in it one way or another. However while many morally deplorable newspapers like to point the finger at rich individuals who have dodged tax on their several millions, …

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US snooping continues expansion with NZ FACTA compliance

Despite all the negative attention that the privacy destroying revelations surrounding the NSA’s PRISM scheme has brought to the US and the huge fallout because of that in the US technology sector, the government is continuing to extend its tentacles around the world and is getting local governments to force …

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Amazon sitting on $9 billion after record Christmas

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Amazon is expected to to announce after its best Christmas takings in years, that its coffers have swollen to an impressive $9 (£5.7) billion, which represents an impressive increase since September, when Amazon was sitting on a more modest total around $5.2 (£3.3) billion. It’s thought that this uptake in …

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Facebook founder flees the country to avoid tax

Knowing that you’re about to pocket close to $4 Billion, what self-respecting Harvard man wouldn’t consider getting the fastest plane out of the US of A, leaving his passport behind and claiming to be Singaporean?  Reports out of the States seem to indicate that Eduardo Saverin is heading East as …

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