European Commission orders Apple to pay €13 billion in tax to Ireland
Tax dodging by multinationals continues to be an issue not only in Australia, but in a number of other countries. According to an Oxfam report, tax Australia misses out on $6 billion in annual revenue that could have otherwise been spent on hospitals, social support programs or schools for that matter – considering there are now 180 schools in NSW that are over capacity.
Yesterday, the European Commission ordered tech giant Apple to pay 13 billion Euros in tax to Ireland. This was after the commission found that Ireland had granted the tech giant favourable tax benefits which saw the company only pay tax of 0.005% in 2014- Ireland’s tax rate is 12.5%!
Professor Kerrie Sadiq, a professor of taxation at the Queensland University of Technology business school, joined Thursday Daily host Adrian Walton to tell us what it all means.
Producer: James Hill