Corporate tax news — from filing obligations to policy changes affecting businesses of every size.
Apple has agreed to pony up 318 million euro ($347.72 million U.S.) to settle a tax dispute in Italy related to back taxes. The news was first reported by Italian news agency La Republicca. Apple had been accused of failing to declare income of approximately 880 million euro ($961.97 million U.S.) from 2008 to 2013. Apple initially denied the charges….
What do you want for Christmas this year? Most American workers would like a higher salary for the new year, followed by better health insurance, a better work/life balance, a new employer, and more vacation time. When you add up the numbers, a Bankrate Money Pulse survey indicated that a quarter of those surveyed would like…
Wal-Mart Puerto Rico, Inc. (Wal-Mart PR), the Puerto Rico arm of the venerable Wal-Mart chain, has filed a lawsuit against the Commonwealth of Puerto Rico in a bid to overturn certain new tax laws the retailer says are discriminatory and violate federal laws and the U.S. Constitution. The case is Wal-Mart Puerto Rico Inc. v. Zaragoza-Gomez,…
Months after Volkswagen admitted that it had sold up to 11 million cars worldwide fitted with software designed to produce favorable and flawed emissions tests, German prosecutors have announced an investigation into whether the deception also constituted tax evasion. Up to 11 million cars worldwide were fitted with the software including the Audi A3 (2009-15), VW…
“[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…
(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 the current tax law. Specifically, Danish Tax Minister Karsten Lauritzen…
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…
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…
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…
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…