Business Insider: Apple: You can have taxes or you can have jobs, but you can't have both
Apple's official statement on the EU ruling against its Irish tax arrangements tells you all you need to know about what is at stake: You can have taxes, or you can have jobs, but Apple is in no mood to deliver both.
After learning this morning that the EU expects Apple to pay €13 billion (£11 billion, $14.5 billion) in back taxes, the company said, "it will have a profound and harmful effect on investment and job creation in Europe."
That is not a threat, technically. But it will be seen as one by EU politicians who want to attract new companies to their countries.
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WNU Editor: When I was in Russia two weeks I spent a day at an economic forum discussing what direction should the Russian government take on its economy (this is my idea of a working vacation). I said the same thing .... what is more important for the Russian government .... taxes or jobs. In the case of Moscow .... they choose jobs .... because while times may be tough in Russia .... everyone is at least working. In the case of the EU and Ireland .... Ireland prefers the jobs (and they appear to be well paying jobs), but the EU prefers the taxes because in their minds they know how to create jobs better than companies like Apple, and besides .... in their mind a company like Apple has a lot of cash. My prediction .... Apple will pay the tax, but expect less jobs in Ireland. This also opens an avalanche of other tax cases .... expect more rulings and judgements in the months and years to come against multinationals and state run companies that operate in the EU .... Saudi Arabia's Aramco with its mega billions from its petro-sales comes to mind..
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