Friday, September 9, 2016

Scrutinizing Tax Deal Retroactively Will Motivate Companies to Leave EU

The more the EU scrutinizes tax deals retroactively, a process that confirms its desperate hunt for money, the further away multinationals will move their money beyond its reach. In other words, will retroactive tax deals might fill the coffers over the short-term, they will deplete them in the long-term as companies move or withdraw operations. This will reduce investment and job creation throughout Europe. Social tensions will rise as the public associates tax policy from non-elected officials with declining standard of livings.

Headline: EU scrutinising around six other 1990 Irish tax opinions-report

DUBLIN, Sept 4 (Reuters) - The European Commission is scrutinising around six tax opinions multinationals received in Ireland in the early 1990s, the same period in which it said one granted to Apple amounted to illegal state aid, Ireland's Sunday Business Post said.

Last week, European Union antitrust regulators ordered Apple to pay up to 13 billion euros ($14.5 billion) in taxes to the Irish government after ruling that Ireland granted undue and selective tax benefit to the company.



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