“We need to use the momentum globally to ensure that corporations pay their fare share of taxation”, EU Commissioner Valdis Dombrovskis outlines from the World Economic Forum 2017.

World Economic Forum, Davos, 17-20/01/2017
Valdis Dombrovskis and Winnie Byanyima, Executive Director of Oxfam International, attend a session named 'Taxation without borders: a fair share from multinationals'.
Date: 19/01/2017. Location: Davos-Congress Center,Davos
© European Union , 2017 / Source: EC - Audiovisual Service / Photo: Johanna Leguerre

At the third day of the World Economic Forum 2017 in Davos, the session “Taxation without Borders: A Fair Share from Multinationals” took place where tax-base erosion and profit shifting policies were discussed in view of the Panama Papers and the fact that countries lose tones of money when multinationals implement such strategies. Emerging countries […]

Apple’s tax avoidance scheme remains as creative as their new iPhone

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This article was written by one of our passionate readers, Mrs Rachel Everly. The opinions expressed within reflect only the writer’s views and not The European Sting’s position on the issue. The annual report released by Apple is hinting very strongly that they are continuing to earn good profits, which are unfortunately being funneled offshore to avoid […]

Deutsche Bank again in the middle of the US-EU economic skirmishes

Deutsche Bank Towers – Headquarters in Frankfurt am Main, Germany. Taking a look into the lobby. (Deutsche Bank Audiovisual Service).

The US government is reacting in many ways against the fine in back taxes of €13 billion which the European Commission imposed on Apple. Firstly, Jack Lew, the American Secretary of the Treasury, accused the EU of grabbing tax incomes which belong to the US. On 31st August he said, “What’s not appropriate is for, […]

A hot autumn after a cool summer for Europe

Boris Johnson (on the left) never loses the opportunity to attract the interest of photographers. In this case as Major of London he received Johannes Hahn, Member of the European Commission. Date: 28/02/2014. Location: London - Trafalgar Square. © European Union , 2014 / Source: EC - Audiovisual Service / Photo: Justin Tallis.

This autumn Europe has everything it…didn’t need. A frozen Spain, a hot Britain who says will stay in EU’s Foreign and Security Policy, a self-centered Ireland and a revolutionary France. In the most interesting development the British Foreign Secretary, the infamous for his gaffes and lies Boris Johnson, said that despite the impending Brexit, his […]

The EU responds to US challenges by fining Apple with €13 billion

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Last Tuesday, the White House and the US Treasury in concerted actions issued farfetched statements against the EU Commission. The EU executive’s decision ordered the US giant technology company Apple Inc. to pay additional taxes of up to €13 billion in Ireland. These instant and strong reactions clearly denote that the US sees this Brussels […]

Starbucks and FIAT again under Commission’s microscope: is Europe ready to kick multinationals out of the house?

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Some multinationals (MNEs) such as FIAT and Starbucks have been overdoing it in the EU for quite some time now. The case of tax investigation of the aforementioned companies on whether they have paid the correct amount of corporate income tax or not is ongoing for over a year now. The Commissioner responsible for Competition, Mrs […]

Benjamin Franklin was wrong: Amazon can tax evade

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“In this world nothing can be said to be certain, except death and taxes”, Benjamin Franklin said back in the 18th century. Three hundred years later in principle it maintains validity, when it comes to the former. Of course for most developed societies tax is a de facto obligation of the citizen. Most of us we […]

European Commission: Does Apple, Starbucks and Fiat really pay their taxes?

Press conference by Joaquín Almunia, Vice-President of the EC, on the investigation of the EC on transfer pricing arrangements on corporate taxation of 3 companies (EC Audiovisual Services)

The European Commission (EC) decided two days ago to conduct an investigation which will focus on the tax affairs of Apple, Starbucks and Fiat Finance and Trade in Ireland, the Netherlands and Luxembourg respectively. Basically, EC’s purpose is to examine if the tax authorities of the aforementioned countries are in line with the rules of […]

Samsung’s profits fall as cheaper smartphones gain market share

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Last Friday tech giant Samsung Electronics hit the market with its ultimate creature. The Galaxy S5 was released worldwide, in more than 100 countries. Samsung said there was high demand for its latest flagship smartphone in many countries across the globe such as France, India and Canada, reporting that there were long queues for the device, […]

Is Data Privacy really safe seen through Commissioner’s PRISM?

Photo of the PRISM Presantation (copyright: The Guardian)

It was last Friday that the European Commissioner for Justice, Viviane Reding, had a ministerial meeting in Dublin with Mr Eric Holder, U.S. Attorney General. The topic of the meeting would have normally been the ongoing discussion on the transatlantic data privacy agreement. That would have been effectively the 15th round of negotiations to bridge […]