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Apple- Payback….

Discussion in 'General Survival and Preparedness' started by john316, Sep 1, 2016.

  1. john316

    john316 Monkey+

    The Justice Department announced a criminal plea and settlement with BNP Paribas on Monday, in which the French bank will pay nearly $8.9 billion to settle charges it willfully continued to do business with countries and entities on the U.S. sanctions list. It was the largest sanctions fine in the Justice Department's history — more than four times larger than #2 on the list. The following are the largest penalties paid by banks for sanctions violations.

    Apple's Chief Executive Tim Cook described an EU ruling that it must pay a huge tax bill to Ireland as "total political crap", but France joined Germany on Thursday in backing Brussels as transatlantic tensions grow.

    European Competition Commissioner Margrethe Vestager dismissed Cook's broadside, saying the demand for a 13 billion euro ($14.5 billion) back tax payment was based on the facts.

    Washington has lined up with the tech giant, accusing the European Union of trying to grab tax revenue that should go to the U.S. government.

    But in Ireland itself, public opinion and the government are divided over whether to take the windfall - which would fund the country's health system for a year - or reject it in the hope of maintaining a low tax regime that has attracted many multinationals and the jobs they create.

    Apple has said it will appeal the ruling which Cook attacked in an interview with the Irish Independent. "No one did anything wrong here and we need to stand together. Ireland is being picked on and this is unacceptable," the newspaper quoted him saying. "It's total political crap."


    payback….US CHARGES $8.9 billion fine EU charges $14.5 billion) back tax payment

    did no one see this coming

    so maybe the US will double tax everybody (that we do not like)

    U.S. tax law gives the Obama administration power to double tax rates for European companies………………

    should it choose to dramatically escalate a dispute with the European Union over Apple's tax bill.

    Experts said the administration was unlikely to take such a drastic measure, and even if it did, courts might strike down that action because of treaties.

    Section 891 of the U.S. tax code, passed in 1934 but never used, allows the president to double tax rates for citizens and corporations of any country the administration considered was discriminating against U.S. companies.

    The U.S. Treasury on Wednesday declined to comment on whether Washington was considering such drastic measures, which Democratic and Republican lawmakers have proposed putting on the table due to what they see as overreach by the European Commission in a tax grab targeting American companies.

    Maybe we could have a war over it…………..call it a jobs bill
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