On a proportionate scale, if your workplace paid you $50,000 per year.. You would pay $2.50 for your total annual tax bill. Two dollars 50cents!
he European Commission is putting multinationals on notice with its order to tech giant Apple to pay €13 billion in tax to Ireland. It’s signalling that it won’t bow to pressure from the US. Now other countries may follow with similar action. The Commission concluded Ireland granted Apple undue tax benefits. It found that selective treatment allowed Apple to pay an effective corporate tax rate of 1% on its European profits in 2003, down to 0.005% in 2014. This was significantly less than Ireland’s tax rate of 12.5%.
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