Knowledge sharing

Saturday, May 14, 2016

Analyze the past, predict the future and redefine yourself

There’s a building in the Cayman Islands that houses supposedly 12,000 U.S.-based corporations. That’s either the biggest building in the world or the biggest tax scam in the world, and we know which one it is - Barack Obama

Apple’s, Google's and Coca Cola’s tax assessments are material from an annual report perspective besides financial risks contain reputational risks.

  • Italian tax police believe Google evaded 227 million euros in taxes.
  • Apple has agreed to pay €318m (£235m, $348m) to Italian tax authorities following a two-year fraud investigation, according to reports.
  • Google agreed to pay the UK treasurer £130 million ($185 million) in back taxes, covering the period since 2005, and to also pay higher taxes in the future.
  • France is seeking 1.6 billion euros ($1.76 billion) in back taxes from U.S. Internet giant Google.

Let's discuss the past, impact and what to do ...

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