French President Emmanuel Macron says it’s crazy that companies like Amazon, Apple, Facebook, and Google get a « permanent tax haven status. »
The reference to ‘tax haven status’ relates to practices used by Apple and others to funnel profits on European sales through Ireland, and then to claim large deductions for R&D costs incurred in the US. There have also been accusations that Apple assigns most of its European profits to a subsidiary which exists only on paper and which pays no taxes anywhere.
Check It Out: Emmanuel Macron Says its Crazy That Apple Gets Tax Haven
Agreed. If only he was in a position to do something about it.
Oh, wait, he is.
If he thinks it’s wrong then he needs to stop b****ing about it and change the EU law.