Tax

Some of the world's richest countries have today reached a landmark agreement to close international tax loopholes used by some of the biggest multinational corporations, including big tech companies like Apple, Google, and Amazon (via Reuters). At the G7 summit in London, representatives of the U.S., UK, France, Germany, Canada, Italy, and Japan reached an agreement on a coordinated effort...

The European Union has set out its grounds of appeal against Apple's victory in its $13 billion euro ($15.8 billion) tax dispute, saying that judges used "contradictory reasoning" when they ruled that Apple's business in Ireland was not liable for significant payments (via Bloomberg). In a summary of its appeal published earlier today, the EU set out its determination to challenge the court...

Apple has reached a deal with French authorities to pay an undeclared amount of back-dated tax, according to multiple reports today. Apple's French division confirmed the tax payment agreement to Reuters, but didn't disclose how much it had agreed to pay, although French media suggest the sum is around 500 million euros ($571 million). "As a multinational company, Apple is regularly...

Just over two years after the European Commission ruled that Apple was receiving illegal state aid from Ireland -- where it had reportedly paid less than 2 percent in taxes compared to the country's headline 12.5 percent corporate tax rate -- Apple has now paid back the entire 13.1 billion euros ($15.3 billion) it owed in back taxes (via Reuters). The European Commission confirmed the...

Germany today denied a report that claimed the finance ministry had given up on plans to introduce more taxes on certain "internet giants," like Apple, Amazon, and Google. The taxes are related to a new proposal from the European Commission, which aims to make companies with "significant digital revenues" in Europe pay a three percent tax on such services in the EU (via Reuters). While...

Apple on Wednesday began sending out emails to let developers know of changes to the price of App Store apps in several countries, owing to regional adjustments in value added tax (via 9to5Mac). Apple told developers that since January 1 it had been collecting taxes on the sale of apps and in-app purchases in Armenia, Belarus, Turkey, Saudi Arabia, and United Arab Emirates. The new policy...

France and Germany are looking to stop tech companies like Apple from exploiting tax loopholes in their respective countries. The loopholes are said to have allowed Apple to "minimize taxes and grab market share" at the expense of Europe-based companies. France will draft and propose a list of "simpler rules" that will be aimed at creating a "real taxation" law for non-European companies,...