WASHINGTON – Apple and other corporate giants are under heavy scrutiny as governments are looking to make up tax revenue shortfall in tough economic times. Reuters reports antitrust complaints have been lodged to the European Union’s highest lawmaking body, the European Commission, against Apple and their iPhone product.
Europe continues to hammer Apple, Google and Amazon over their tax practices, which are legal, in order to eventually tax them. France has proposed a “Google Tax” to tax the Internet search engine giant. The United Kingdom is questioning Amazon executives over similar aspects of their tax records.
All three of these corporations declare their taxes in other countries from where their staff is located, mostly due to the high taxes that some of their host countries have. Even Apple’s longstanding agreement with Ireland drew the ire of American lawmakers. Amazon executives were questioned by British lawmakers regarding their tax shelters in the small country of Luxembourg.
Google is being investigated by the EU over its antitrust practices, and now Apple’s iPhone is also under investigation. Both could result in huge fines that these corporations must pay to European bureaucrats.