News Item

01 September 2016  
  

COLLECT THE €13 BILLION IN BACK TAXES FROM APPLE TO BUILD COUNCIL HOUSING


COLLECT THE €13 BILLION IN BACK TAXES FROM APPLE TO BUILD COUNCIL HOUSING

The EU Commission has ruled that Apple must pay back taxes of €13 billion plus interest to the Irish people.
We should welcome that ruling because this money could be used to build 86,000 council houses. It could solve the housing crisis in the few years.
Due to a secret ruling by the Revenue Commissioners in 1991, Apple got away with paying a tax rate that eventually declined from 1% in 2003 to 0.0005% in 2014.
The Irish government colluded with the wealthiest corporation in the world to rob their own people of much needed resources that could have financed schools and hospital.
The special deal on 1991 guaranteed Apple a tax rate of less than 2%. Another secret deal in 2007 reduced the tax take even further.
The deals allowed Apple to funnel profits from its sales outside North and South America to two companies, Apple Sales International and Apple Operations Europe, which were supposed to be located in Ireland. The EU Commission found that the ‘head offices’ of Apple’s Irish subsidaries existed only on paper. It was a gigantic scam.
In their defence, the Irish government admitted that, ‘Ireland does not have a statutorily binding tax ruling system’. In simple language, taxes on corporate profits are not guided by law or strict regulation but are open to negotiation. The Revenue Commissioners can do ‘Advance Price Agreements’ with big corporations to guarantee them low tax.
These deals show how corporations and workers are treated differently for tax purposes. Imagine a PAYE worker asking the tax official for special deal on their wages!
Apple used this scam to build up a huge cash reserve of $200 billion – which was controlled in Nevada. It became one of the biggest hedge funds in the world and engages in massive financial speculation.
The EU ruling gives a shocking insight into the real relationship between the Irish political establishment and global corporations. Both Fianna Fail and Fine Gael Ministers knew about these secret deals – but they still told the rest of us to make sacrifices for the good of the economy.
TAKE THE MONEY
The EU ruling gives us a chance to turn all this around – but only if we stop the government making an appeal to EU courts.
Fine Gael and Fianna Fail want to appeal the judgement because they are determined to preserve Ireland’s reputation as a respectable tax haven. They have no concern about the bad reputation caused by the number of people who are homeless.
If an appeal is made, the money recovered from Apple will be locked away in an ‘escrow account’ for years to come. Vast amount of Irish taxpayers’ money would also be spent on law firms.
We need this money now to help our society after the Celtic Tiger crash and the years of sacrifice.
This is why we need to stop an appeal now. Tell government:
• Take Apple’s taxes and build council housing to get people off the housing list.
• Look after the poor – not tax dodging corporations.

www.peoplebeforeprofitkerry.ie

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