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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?


To: GROUND ZERO™ who wrote (1359)6/11/2014 10:41:32 AM
From: Kirk ©1 Recommendation

Recommended By
GROUND ZERO™

  Respond to of 26526
 
EU to Investigate Corporate Tax Codes in Ireland, Luxembourg, Netherlands
  • Probe Follows Criticism in Europe of Low Tax Rates Paid by Global Corporations
  • Apple used Irish tax laws to allow it to pay just a 3.7% tax rate on non-U.S. income during its last fiscal year.
By TOM FAIRLESS
Updated June 10, 2014 8:27 p.m. ET

BRUSSELS—European Union regulators are preparing to open a formal investigation into corporate-tax regimes in Ireland, Luxembourg and the Netherlands on Wednesday, according to a person familiar with the matter, amid concerns that multinational companies such as Apple Inc. AAPL +0.28% enjoy sweeter tax deals than are permitted under EU law.

The probe by the European Commission, the EU's executive arm, follows criticism in Europe of low tax rates paid by global corporations such as Amazon.com Inc., AMZN +1.54% Google Inc. GOOGL -0.62% and Starbucks Corp. SBUX -0.64% at a time of widespread austerity on the continent.

It is part of a broader crackdown on tax evasion and tax avoidance agreed to by EU leaders in the wake of the region's financial crisis, aimed at boosting national budgets and soothing voter anger over cuts to welfare programs.

The commission will announce a formal investigation into tax deals granted to multinationals at a news conference on Wednesday, the person familiar with the matter said Tuesday. The probe is likely to consider whether generous corporate-tax regimes in Ireland, Luxembourg and the Netherlands amount to illegal state aid.

If the commission's investigation establishes that companies received state aid, it could require that they pay it back. But in practice, such demands are uncommon.

...
The U.S. investigation found no evidence that Apple did anything illegal. And the Irish government last year denied it helps shelter some of the world's largest corporations from paying taxes, saying its long-standing low corporate-tax regime is transparent and doesn't make it a tax haven.
...
However, in a sign of Irish concerns about potential reputational damage following the U.S. Senate revelations, the government last year decided to close a loophole between Irish and U.S. tax codes used that effectively meant that a small number of companies, including Apple, could shift revenue into Ireland and out to other centers that rendered the revenue "stateless" or free of tax anywhere in the world. Ireland's government has said that such aggressive tax planning is unacceptable.
....

More at google.com



To: GROUND ZERO™ who wrote (1359)6/24/2014 10:18:47 AM
From: Kirk ©  Read Replies (3) | Respond to of 26526
 
Embarrassing story for anyone in Detroit (Going to UN for help) but I can understand why the paying customers are upset. The water bills in Detroit are similar to ours here in Silicon Valley... which have doubled in the past 10 years even as we've cut use to conserve because of soaring fixed costs to cover lavish pensions. A VERY Liberal writer for the San Jose Mercury news gave the water district the nick name "Golden Spigot" as even he got fed up with the money the district spent on lavish trips in addition to the pensions and salaries.

BTW, my water bill for one person in a home with a big yard was $76.80 last month! It would be over $100 if I didn't conserve by not having a lawn in my back yard (all on drip) and only half a lawn in the front yard....that is almost dead from getting just enough water for life support this summer.

Nearly Half Of Detroit Water Customers Can’t Pay Their Bill
June 23, 2014 7:33 AM

detroit.cbslocal.com
Garner said the reality is that nearly half of Detroit Water and Sewerage customers can’t pay their bills; and that has led activists to lobby the UN to step up and take action.

“If they do contact us we are willing to speak with them,” she said, adding “We owe it to the customers that are paying to collect from those that aren’t. Somebody has to pay for the water.”

And while Garner says water is “a God-given right,” she says there is a cost to move water from the water resource to the customer and that the infrastructure costs money.

According to the Free Press, the average Detroit water bill is now $75 a month — much higher than the nation’s average rate of about $40.
.

Posted Kathy Ward, “This is just insane. If someone is that destitute that they truly cannot afford their water bill, there are already welfare programs in place for that. I’m guessing those same people not paying their water also have a TV, cable, I-phone, etc. People need to get their priorities straight, not expect another government handout.”
...
Yes, there are able bodies out there abusing the system. And those individuals should be sought out. But before we go after those people, how about we go after the real welfare abusers. The elected officials, oil companies, insurance companies, banks, Wall Street. Because those abusers are the biggest beneficiaries of our hard work and tax dollars. Stop kicking those who are already down.”
Yeah, when all else fails, blame the oil companies... The truth is there are so many abandoned properties that the fixed cost (pensions, infrastructure, etc.) has to be spread over fewer paying customers.