The Eu Gets Real, Beotches

The EU has routinely insisted that in accordance with EU rules, countries in crisis have to impoverish their ordinary citizens, cutting wages and the social safety net.

Well it looks like the EU will start going after money for the big guys now with Eurocrats going after Ireland’s tax deal with Apple, and Luxemburg’s and the Netherland’s deals with FIAT and Starbucks:

In a warning shot to companies shopping for tax deals around the globe, the European Commission publicly accused Ireland on Tuesday of giving illegal subsidies to Apple and cautioned that the country might need to collect back taxes from the company, which outside analysts said could reach into the billions of dollars.

These findings, which constitute a preliminary indictment of Apple’s past arrangements with Ireland, come as policy makers in the United States and Europe try to block some of the inventive maneuvers multinationals use to limit taxes in their home countries and reduce their worldwide payments as much as possible.

“The light bulb has gone off that trade wars by another name and conducted through the tax system are just as ruinous,” said Edward D. Kleinbard, a professor at the University of Southern California’s Gould School of Law and a former chief of staff to the Congressional Joint Committee on Taxation.

And from the European lowlands:

The European Union is to accuse US tech giant Apple of taking illegal aid from the Irish state through sweetheart tax deals over two decades, the Financial Times reported Monday.

A European Commission investigation into Apple’s tax affairs in Ireland, where it has enjoyed a rate of less than 2.0 percent, found that the company benefitted from illegal state aid, the FT reported citing sources close to the matter.

Ireland’s Department of Finance confirmed that the EU would be publishing a document on Monday but stressed that “the Commission has not formally decided that there is state aid” at play.

“Ireland is confident that there is no breach of state aid rules in this case and has already issued a formal response to the Commission earlier this month, addressing in detail the concerns and some misunderstandings contained in the opening decision,” the department added.

The European Union launched a probe in June into sweetheart tax deals negotiated by Apple, Starbucks and Fiat with three member states.

The investigation seeks to determine whether such arrangements offered by Ireland, Netherlands and Luxembourg give the companies an unfair competitive advantage and thus amount to illegal state aid.

Here’s a phrase that I did not expect to say, “Good job, European Union Bureaucrats.”

Follow this to its logical conclusion, please, and ban this sh%$.

Everyone but the corporations lose in this beggar thy neighbor strategy, and besides, Ireland really needs the money.

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