Netherlands Will Appeal Starbucks Tax Ruling, Apple Ruling Likely Delayed

“[T]he European Commission’s verdict in the Starbucks case deviates from national law and the OECD’s system.” That was the reaction on Friday from Netherlands Ministry of Finance in response to the European Commission’s October ruling that “selective tax advantages” granted to Fiat in Luxembourg and to Starbucks in the Netherlands were improper. The Commission has … Read more

Tesla’s License Plate Mystery Raises Questions Ahead Of Tax Changes

(Author’s note: This story has been updated to reflect a statement from the Danish Ministry of Taxation.) With an expiring tax break looming in the distance, the Danish government suggested this week that Tesla Motors was going to extraordinary lengths in order to profit from current tax law. Specifically, Danish Tax Minister Karsten Lauritzen initially accused … Read more

Starbucks, Fiat Tax Deals Ruled Illegal, Ordered To Repay Millions In Back Taxes

In 2014, the European Commission announced that it would formally investigate the tax structures and practices of a handful of companies including Apple (Ireland), Fiat Finance and Trade (Luxembourg), and Starbucks (Netherlands). The inquiry followed months of promises by world leaders to ensure tax compliance after not-so-shocking revelations that multinational companies were engaging in controversial … Read more

Chances Are, You Paid More In Taxes Last Year Than Facebook Did (In The UK)

Some Facebook users in the United Kingdom (UK) may be getting ready to put that rumored “dislike” Facebook button to use: the social media site paid just £4,327 ($6,643 US) in UK corporate tax in 2014. No, that’s not missing a few zeros. It’s really £4,327 ($6,643 US). To be clear: I paid more in … Read more

Senate Investigates Volkswagen Dealings With IRS On Tax Credits

Did Volkswagen make false or misleading assertions in any of the materials submitted to, or communications made to, the U.S. government regarding eligibility of Volkswagen vehicles for the lean-burn technology motor vehicle credit? That’s the first of a series of pointed questions in a letter sent to Volkswagen AG and Volkswagen Group of America from … Read more

Tesla Prices To Triple In Denmark As Tax Incentives Are Rolled Back: Will Other Countries Follow?

Tesla Motors launched its Model X SUV this week and eager buyers were already in line to snatch up the first new offering from the car dealer in two years. You had to be prepared to wait, however: the highly anticipated SUV had a waiting list of 20,000 prospective buyers when it launched. The success … Read more

Did Volkswagen’s Deception Cost US Taxpayers Millions?

The fallout from the diesel emissions cheating scandal at Volkswagen continued today with Martin Winterkorn tendering his resignation as Chief Executive Officer (CEO) even as he took responsibility for what he called “irregularities.” Winkerkorn’s resignation came just days after Volkswagen admitted that it had manipulated software in some diesel cars in order to produce favorable – … Read more

Coca-Cola Says IRS Wants $3.3 Billion In Additional Tax Following Audit

The Coca-Cola Company announced today that it may owe $3.3 billion in additional federal income taxes. In a form 8-K filed with the U.S. Securities and Exchange Commission, the company revealed that following a five year audit for the tax years 2007 – 2009, the Internal Revenue Service (IRS) issued a Notice of Deficiency claiming … Read more

German Bank Will Pay $1.45 Billion To Settle Sanctions, Money Laundering Charges

The international dollars keep rolling in. Yet another bank has agreed to pay a fine in response to ongoing investigations into foreign accounts. Commerzbank AG, headquartered in Frankfurt, and its U.S. branch, Commerzbank AG New York Branch (called Commerz New York), have agreed to a deferred prosecution agreement which calls for, among other things, the … Read more

Walmart Says ‘Skip The Check’ & Pick Up Tax Refunds In Cash

It’s official: the 2015 tax season officially opened today. To coincide with the open, Walmart has announced the launch of Direct2Cash, a service that allows consumers to “skip the check” and pick up their tax refunds in cash. This isn’t a RAL (refund anticipation loan). It’s not a loan at all. It’s more of a … Read more