Topics to impress this week. 1. Apple of discord Apple has reached an agreement with the EU to begin paying US$15.4bn in back taxes it was ordered to pay Ireland. Bizarrely, Ireland has resisted collecting the money, and appealed the decision. The ruling was issued by the EU more than a year ago, but Ireland has styled itself as a low-tax environment to spur investment. As a result, Apple used the country as a tax shelter, paying rates of 0.005% on its European profits between 2003 and 2014. The agreement was made days after activists occupied Apple stores in France, demanding that the company pay up. 2. Too much information The UK and other EU governments are planning a crackdown on bitcoin, which they fear is being used for money laundering and tax evasion. They plan to bring cryptocurrencies in line with anti-money laundering and counterterrorism legislation, says The Guardian. This will force traders to disclose their identities, ending the anonymity that makes bitcoin attractiv...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.