European Union could enact, enforce major new antitrust rules by early 2023
This is absolutely needed. Hopefully the EU will pull it off.
The EU simply wants Apple's money and access to their hardware without paying for it.
The arrogance of the EU to attempt to fine these companies based on worldwide revenue is blatantly wrong. The EU has no authority over anything outside the EU and any attempt to do this needs to stop. They are trying to rule the world.
Time for them to go away.It's not arrogance. It's a dissuasory measure which seeks to ensure fines have proportionate impact on companies who are deemed to be not complying with EU law.
I sure you have no issues when Apple re-directs money earned within the EU to non-EU destinations in an effort to lessen tax burdens. These are not 'anti-Apple' practices.
They are applied to many different companies and when you look at fines, logically, most of those are actually against EU companies.I didn't realize Ireland was "non-EU"? The EU allow foreign corporations to set up their EU HQ in any EU country. Apple EU HQ is in Cork, Ireland.
Where Apple pays their EU corporate tax on their EU profits. Ireland just happens to have a lower corporate tax than the bigger EU countries like Germany, France. Spain, Italy and formally the UK.
The corporate tax rate in France is 26%, Germany is at 30% Spain is at 25%, Italy is at 28% and formally the UK is at 19%. Ireland corporate tax is at 12.5%. Soon to be 15% not because of the EU commission bitching about it.
But because Ireland agreed to charge the minimum international tax rate of 15% set by the OECD.
https://applescoop.org/story/did-you-know-that-apple-has-a-campus-in-cork-ireland https://www.theverge.com/2021/10/7/22715229/ireland-status-tax-haven-google-facebook-apple https://www.investopedia.com/terms/o/oecd.asp
The EU commission is set up to favor the larger countries in the EU. They don't like it when smaller countries like Ireland set lower tax rates to compete for foreign corporation business, away from the likes of Germany, France, Spain. Italy, etc..
The EU thinks Apple and other large US corporations, should be paying more taxes in the EU, than they are legally required to pay. So rather than to go against their own policy of allowing each EU country to set their own tax rates, (so long as it don't violate EU "State Aide" laws), they will find some other ways to go after the big US techs money, to make up for what they think these corporations should be paying in EU taxes. Only in the EU is it "illegal", for corporations to find ways to pay the least corporate tax, that is legally allowed.
https://www.theverge.com/2020/9/25/21456383/eu-commission-appeal-taxes-ireland Do you have an issue with Volkswagen, the largest auto maker in the World, building their US factory in TN, after receiving substantial tax breaks? Should the US Federal government go after them for "avoiding" taxes?
https://www.goodjobsfirst.org/volkswagen's-tennessee-subsidy-deal-are-taxpayers-being-taken-ride And you are wrong about the EU concern that Apple is re-directing profits made in the EU to non-EU country. With Apple, their main concern is Apple legally paying a lower EU corporate tax rate, than they see as "fair share".
They are more concern about profits made in the EU and not taxed in the EU, by corporations like Google, Facebook and Amazon. They makes a great deal of profit selling digital goods like targeted ads over the internet, to EU citizens but reporting the profit from those services in the US (or some other country). Apple do make some profit selling digital goods (iTunes Music Store, ATV+, Streaming movie rentals iBooks, etc.) in the EU, but hardly worth going after, compare to their profits from selling physicals goods in EU Apple Stores.
The EU is saying that corporations sell digits goods over the internet in the EU, are not paying their fair share of the profit they made in the EU, to the EU. Which is why there's the DST (Digital Service Tax). But the EU do benefit from collecting a VAT on those services.
https://news.bloombergtax.com/daily-tax-report/digital-services-tax-why-the-world-is-watching Right now the US do not impose a digital service tax. So would you have an issue with Spotify (if they were profitable) not having to pay tax to the US, on the profits they made selling their subscriptions to US citizens?
I'm sure they pay their corporate tax on their profits (if any) in Sweden but should the US also tax some of that corporate profit because a good chunk of it would had been made in the US? And you guessed it, the DTA in the EU, like the DMA, mainly targets the 5 big US techs. Show me where Volkswagen, the World's largest auto manufacturer, will be fined a percentage of their Global revenue, if they were to violate any EU regulations.
You can't, because these type of fines are only levied to "gatekeepers" and we all know who are the "gatekeepers" under the DMA. By DMA design, they do not include any EU companies. https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/big-fines-can-scare-big-tech-but-enforcing-digital-markets-act-is-key-8211-experts-69620415
"Unlike the up-to-4% cuts from worldwide annual revenue that can be enforced under the GDPR, the DMA would impose penalties of 10% of global revenue and 20% for repeat offenders." The GDPR do not apply to all EU companies. Just the ones dealing with citizens privacy.