00:00All right, so let's bring in technology journalist, Chris Stoker-Walker.
00:04Hello Chris, I'm sure you've heard what Will said, so let's go back to that ruling on Apple's tax impropriety in Ireland.
00:12Irish government, they were using that tax incentive to get them to do business in Ireland.
00:20Why then is this significant? Because it seems that Ireland is not happy with the deal.
00:26Yes, and I think that this is an indication perhaps of how strongly European regulators are choosing to crack down on these big tech companies,
00:34often superseding the wishes of the other 27 member states of the European Union here.
00:40As you say, Ireland has made its name of being a low-tax haven for big tech companies.
00:46It's where many of those companies choose to base their European arms.
00:51And that is in part because of that low tax rate that we talked about, 0.005% in 2014 was the effective tax rate that Apple was paying.
01:00Of course, they have, and they do say, and Will pointed out there, have paid a decent amount of tax, something like half a billion dollars overall.
01:08But it does indicate that I think this is a sort of slap on the wrist for individual countries wanting to go their own way when it comes to tech.
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