Apple accuses EU of misunderstanding its business in €13bn court case September 18, 2019 Apple has accused the European Commission of misunderstanding its business as the tech giant’s appeal against a €13bn tax order entered its second day. The Commission had accused Apple of having dodged taxes and received illegal state aid from Ireland, ordering the company to pay a €13bn Irish tax bill in 2016. Read more: Apple [...]
Apple tells EU court €13bn Irish tax bill ‘defies reality and common sense’ September 17, 2019 An order by the European Commission for Apple to pay a €13bn (£11.5bn) Irish tax bill “defies reality and common sense”, the tech giant said today as it launched a challenge against the ruling. Apple accused the Commission of using its powers to fight state aid to “retrofit changes to national law” at a hearing [...]
Apple prepares to launch EU legal challenge over €13bn Irish tax bill September 16, 2019 Apple is set to launch a legal challenge tomorrow over an order by the European Commission to pay €13bn (£11.5bn) in Irish back taxes, as the EU seeks to crack down on tax avoidance by multinational companies. What’s the case about? The tech giant was accused of having dodged taxes and received €13bn illegal state [...]
‘Bad for business’: Financial lobby group criticises McDonnell’s planned financial transactions tax September 12, 2019 Shadow Chancellor John McDonnell’s plans to extend the scope of Labour’s proposed financial transactions tax have come under criticism from the head of a City lobby group. “A tax on financial transactions would be bad for business, bad for investors, bad for savers, and bad for the economy,” said Miles Celic, chief executive of Thecityuk. [...]
DEBATE: Should capital gains tax be raised and aligned with income tax? September 9, 2019 Should capital gains tax be raised and aligned with income tax, as it was under Margaret Thatcher? YES, says Robert Palmer, executive director of Tax Justice UK Why should someone who goes out to work for a living pay a higher rate of tax than someone living off their wealth? It’s an important question, especially [...]
Number of taxpayers falling six months behind on bills increases September 9, 2019 The number of British taxpayers who are falling well behind on their tax bills has continued to climb, according to research. About 117,000 people are now more than six months behind, according to accountancy Moore Stephens, meaning they have received the second of two penalties of five per cent of the tax they owe. This [...]
Inheritance tax faces a shake-up with number of proposed changes July 6, 2019 Under proposed changes to the inheritance tax, the current rules on gift-giving could be cut down from seven years to five. A review of the system ordered by chancellor Philip Hammond claimed the period in which executors are required to account for gifts given within seven years of death should be reduced to five. Read [...]
G20 vows to crack down on tech giant tax havens by 2020 June 9, 2019 Tech giants such as Facebook and Google will face a crackdown to ensure they pay their corporate taxes in full, after G20 finance ministers vowed to wrap up new laws by the end of the year. In a communique issued after a meeting in Japan, the finance ministers said they would compile new rules to [...]
Philip Hammond’s virtue signalling on low pay is hypocritical June 7, 2019 Philip Hammond may soon be out of a job. In fact, I would be very surprised if he remains chancellor of the Exchequer for more than a day or two after our new Prime Minister is chosen. Hammond is fond of reminding his critics that his demise has been predicted before. Yet while the Tory [...]
DEBATE: Should there be a cap on inheritance tax breaks available to wealthy families? June 3, 2019 Should there be a cap on inheritance tax breaks available to wealthy families? Robert Palmer, executive director of Tax Justice UK, says YES. Inheritance tax is one of the most disliked taxes in the UK, in part because the super-rich can largely avoid paying it. This is deeply unfair. At Tax Justice UK, we’ve just published [...]