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What should we do with the €13,000,000,000

ruserious

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Jan 3, 2011
Messages
29,625
So Apple is being ordered to repay €13 Billion in tax to Ireland.

In 2014, Apple paid €50 on the €1,000,000.

What at should we do with all the money?
 


tigerben

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Sep 21, 2010
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4,623
If we take it , it's decided what will be done with it already

4. Why can't the Government just use the money to improve public services?

Ireland has agreed to EU budget rules that specify that if "windfall gains" come our way in 2016 or 2017 the money will be used to accelerate debt reduction. A paper agreed by the EU Council states that after the recent economic turmoil this approach will help "reduce vulnerability to economic fluctuations and shocks". The ultimate affect of paying down more debt this year should be more spending power next year.
Irish Independent



So it would save us money long term on debt repayments only.
 

enuffisenuff

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Sep 27, 2011
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We could piss it all away like everything else?
 

saab900

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May 22, 2014
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1,112
So Apple is being ordered to repay €13 Billion in tax to Ireland.

In 2014, Apple paid €50 on the €1,000,000.

What at should we do with all the money?
[video=youtube;ZDOI0cq6GZM]https://www.youtube.com/watch?v=ZDOI0cq6GZM[/video]
 

Disillusioned democrat

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Mar 16, 2010
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This will be an interesting test for the Irish government - one that will stay with them forever.

It will be interesting to see what whizzo schemes they come up with to filter 90%+ of this into their cronies hands thru dodgy building schemes, etc.

How about a tax rebate to people who have bled tax over the past 7 years to pay for the mess they created?
 

Spanner Island

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Feb 22, 2011
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24,203
So Apple is being ordered to repay €13 Billion in tax to Ireland.

In 2014, Apple paid €50 on the €1,000,000.

What at should we do with all the money?
We won't be seeing any of this money...

The scam we've been operating is being taken apart bit by bit... and if we don't like it we need to think about leaving the EU.

Although having said that... it's probably not a bad thing that the EU stands up to the likes of Apple and Google etc. seeing as individual governments never will.

I hope the eFFing traitors don't get on their high horses about this either... seeing as it was they who were in office when many of these tax 'arrangements' were concocted...

Regardless, it's likely this will be fought for years in the courts (legal eagles salivating already no doubt) and if Apple ultimately lose... it's likely that individual countries will pursue them for their cut... which again... would leave Ireland with f*** all.
 

Polly Ticks

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I've asked this q several times in various contexts, but never with so much optimism:

Does this mean we can all start partying again?




:rolleyes:
 
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So Apple is being ordered to repay €13 Billion in tax to Ireland.

In 2014, Apple paid €50 on the €1,000,000.

What at should we do with all the money?

Well its roughly 2 grand for every person in the country, we could have one huge party for all the austerity over the last few years.

OR

We could allow the government to have the appeal and try to protect the jobs this jeopardises.
 

Disillusioned democrat

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I've asked this q several times in various contexts, but never with so much optimism:

Does this mean we can all start partying again?




:rolleyes:
Some people never stopped partying. As mentioned above, there's probably 100 barristers licking their lips now at the prospect of €1m+ fees trying to do the state out of tax it was seemingly entitled to.
 

Stroke

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Mar 26, 2003
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458
€13B would cover the total annual budget of the HSE for one year. The interest and penalties would probably pay for DART underground, and electric-double-track Dublin-Cork and Dublin-Belfast. There would be change left over to finish the commuter rail line from M3 parkway on to Navan, and extend it to Derry and Letterkenny via Cavan, Clones, Omagh and Strabane.

We'll probably just hand it over to junior bondholders.....
 

GDPR

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Ireland may not get any of the money, as it's the EU competition people who are demanding this payment, not the EU tax people. See this report from the BBC

Heather Self is a tax partner Pinsent Masons and one of the leading experts on tax disputes and she's on 5 Live Breakfast."It's a very odd situation," she says. "This is the competition part of the European Commission, it's not the tax guys who are going after Apple, it's the competition guys.
"And there's a real turf war developing because the competition guys are saying we know how tax should be calculated, but tax is a matter for national governments, it's not a matter for the European Commission, except where it becomes state aid. And so there's a real battle going on between countries being allowed to set their own tax rules - and Ireland has a low tax rate anyway of 12.5%, which it's allowed to have, The argument there is that it's gone beyond that and given Apple a special deal."
 

gleeful

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Feb 7, 2016
Messages
7,639
If we take it , it's decided what will be done with it already

4. Why can't the Government just use the money to improve public services?

Ireland has agreed to EU budget rules that specify that if "windfall gains" come our way in 2016 or 2017 the money will be used to accelerate debt reduction. A paper agreed by the EU Council states that after the recent economic turmoil this approach will help "reduce vulnerability to economic fluctuations and shocks". The ultimate affect of paying down more debt this year should be more spending power next year.
Irish Independent



So it would save us money long term on debt repayments only.
Technically correct, but we could pay down our debt and then borrow it back again. We'd be repaying old high interest debt and borrowing again at very low rates.

I think we should build a new TGV style train line from Dublin to Cork, with a stop at the Apple campus.
 

Roisin3

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Dec 12, 2009
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You're not going to see any of that money anyway. Might as well do a deal with Apple to help them appeal in exchange for more jobs.
 

Sexual Harassment Panda

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Jul 28, 2010
Messages
4,776
If we take it , it's decided what will be done with it already

4. Why can't the Government just use the money to improve public services?

Ireland has agreed to EU budget rules that specify that if "windfall gains" come our way in 2016 or 2017 the money will be used to accelerate debt reduction. A paper agreed by the EU Council states that after the recent economic turmoil this approach will help "reduce vulnerability to economic fluctuations and shocks". The ultimate affect of paying down more debt this year should be more spending power next year.
Irish Independent



So it would save us money long term on debt repayments only.
This.

If we funnel it into public services it will be wasted because those services won't be prepared for it, they won't have planned for it.

Pay off the debt and we get a 100% return on it. Every cent counts toward our future financial stability which improves our capacity to fund public services in the long term.

The only comparable option is capital investment but financial stability will be important because the world economy is about the implode again.
 

ruserious

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Jan 3, 2011
Messages
29,625
Technically correct, but we could pay down our debt and then borrow it back again. We'd be repaying old high interest debt and borrowing again at very low rates.

I think we should build a new TGV style train line from Dublin to Cork, with a stop at the Apple campus.
We could finally get that cable car from cork city to Apple.
 

gleeful

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Feb 7, 2016
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You're not going to see any of that money anyway. Might as well do a deal with Apple to help them appeal in exchange for more jobs.
Apple is already investing in Ireland and announcing more jobs. A coincidence I'm sure.
 

silverharp

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Jan 21, 2015
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I'd go with Ireland never see this cheque if its written which is unlikely. If its written it will be to the US government off the threat of an economic war.
 

Trainwreck

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Sep 6, 2012
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26,809
So Apple is being ordered to repay €13 Billion in tax to Ireland.

In 2014, Apple paid €50 on the €1,000,000.

What at should we do with all the money?
This certainly blows a hole in that "we are just a low corporation tax location" malarky.

Our EU "partners" clearly believe we have just been screwing them over.
 

Erudite Caveman

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Jul 27, 2016
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This is funny money. It will be locked away for years while this is contested, and then at the very best it might find its way to the national debt. Or more likely it will be subject to some sort of EU-US trade deal that will take with one hand what it gives us with the other.
 

Trainwreck

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Sep 6, 2012
Messages
26,809
I'd go with Ireland never see this cheque if its written which is unlikely. If its written it will be to the US government off the threat of an economic war.
This is a ruling that is going o anger so many people for so many reasons. It is a mess.
 


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