Accountancy Age has the headline this morning that:
HMRC forces Apple to pay £137m in back taxes
And that is, indeed, what its accounts say.
But let's stand back for a moment. The EU says Apple owes €13 billion or so additional tax in Ireland. And in the UK HMRC manage to claim £137 million. A bit over a percent or so.
Who says HMRC does not work for the 1%?
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Good line.
Well said.
“FANG” – Facebook, Amazon, Netflix and Google also appear to lead a charmed life.
In the past 10 years Amazon has paid under $2 billion in taxes, whereas Walmart, its major competitor in the US, has paid over $64 billion!
Many believe that FANG’s lawyers will continue to outsmart government lawyers in 2018.
(We missed your piece on the IoM inviting readers to recommend any favourable features on the island… may we respectfully suggest the boat/plane back to civilisation.)
Have a happy and eventful new year.
From your fans at the PSG.