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Added on the 30/08/2016 18:17:36 - Copyright : RT Ruptly EN
Fury in the US, consternation in Ireland: the European Commission's 13 billion euro bite at tech giant Apple is leaving a bad aftertaste. Jo Webster reports.
EU antitrust regulators order Apple to pay up to 13 billion euros in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. Rough Cut (no reporter narration).
Apple, Fiat, and Starbucks hoard billions in off-shore accounts. This finally might end. Greg Shapiro explains.
In 2017, then-Governor of Wisconsin Scott Walker made great fanfare of the arrival of Apple's biggest supplier, Foxconn. Foxconn had agreed to build a facility to manufacture large-screen TV displays and create 13,000 jobs. In exchange, Wisconsin would offer an enticing series of tax breaks, totaling $4 billion. Now, Business Insider reports the Wisconsin Economic Development Corporation has rejected Foxconn's application for tax subsidies. Business Insider reports Foxconn had to have at least 520 people under employment by the end of 2019 to receive the subsidies. Foxconn claimed to have hired 550 people, but Wisconsin says only 281 of them met the qualifications listed in the contract.
Ireland's finance minister welcomes the judgement of a European court which annulled an EU claim that Ireland had unfairly allowed Apple to benefit from 13 billion euros in state aid. SOUNDBITE
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