Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

APPLE (AAPL)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Don't let up in fight against tax avoidance, Moscovici urges EU states

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/08/2017 | 04:25pm CEST
EU Commissioner Moscovici addresses a news conference in Brussels

European Union states should continue reforming corporate rules to tackle tax avoidance, EU tax commissioner Pierre Moscovici told finance ministers on Saturday, as some smaller nations urged slower reform to avoid scaring away big corporations.

In a paper to be discussed at a meeting of EU finance ministers in Valletta on Saturday, Malta, which holds the rotating EU chair until July, said EU tax reforms would increase uncertainty, harming investment and trade.

It suggested states should be given more time to adapt to changing rules.

Addressing the ministers, Moscovici opposed Malta's view and said the biggest source of uncertainty would be to maintain a "status quo" where EU states compete with each other on corporate tax policy.

Many large U.S. corporations have set up their headquarters in smaller EU states, allowing them to cut their tax bills due to more lax tax rules.

Following recent revelations, such as the Panama Papers, of widespread tax evasion and avoidance by big corporations and wealthy individuals, the European Commission has made several legislative proposals to close legal loopholes. However, some of the most ambitious plans have yet to be approved by EU states.

Multinationals, including Apple (>> Apple Inc.), Amazon.com (>> Amazon.com, Inc.), McDonald's (>> McDonald's Corporation) and Starbucks Corp (>> Starbucks Corporation), are under investigation or have been sanctioned by the EU executive for their excessively low tax bills in some EU states.

"We must finish what we have started," Moscovici urged ministers, according to his speaking notes circulated to the media. The pace of reforms should remain "fast", he said.

He told states to move "with ambition and determination" to agree on proposals for a common tax base at EU level that would put an end to the wide range of corporate tax exemptions and deductions currently applied by EU countries, and which are exploited by big companies to lower their tax bills.

He faced opposition from some smaller EU states. On his arrival to the meeting, Belgian finance minister Johan Van Overtveldt said Malta was right in stressing that the pace of reforms should not be "too fast" and that the EU should adapt its speed to other major economies worldwide.

His remarks were echoed by Luxembourg's finance minister Pierre Gramegna, who called for a "level playing field in terms of taxation worldwide".

Moscovici said the EU should lead the world on tax reforms, especially at a time when the U.S. tax policy is unclear and may further slow down reforms.

Dutch finance minister Jeroen Dijsselbloem sided with Moscovici. "Let's not get soft on tax avoidance," he told reporters on his arrival to the meeting.

Calls for more tax certainty "cannot be an excuse" to slow down the EU fight against tax avoidance, German finance minister Wolfgang Schaeuble told reporters at the end of the meeting.

(Additional reporting by Tom Koerkemeier; editing by Jason Neely)

By Francesco Guarascio

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APPLE
12:19p JCPenney Accepts Apple Pay at Stores Nationwide; JCPenney Credit Card and JCP..
04:15a APPLE : Western alternatives to WeChat
07/24 APPLE : Notice of Petition for Waiver of Apple, Inc., Microsoft Corporation, Poi..
07/24 QCOM : Strong Quarter But Apple Worry Sends Stock Lower
07/24 RYANAIR : iOS App Now Supports Apple Pay
07/24 MICROSOFT : Could Outshine Apple in Premium PC Market
07/24 LG CHEM : Apple officially appoints LG chem. for providing L-shaped batteries fo..
07/24 APPLE : appoints Deirdre O`Brien new Vice President of People
07/24DJApple Supplier Foxconn Looks at Producing Display Panels in Wisconsin
07/22 APPLE : Deirdre O'Brien Named Apple's Vice President of People
More news
News from SeekingAlpha
06:22a STOCKS AS A SAFE HAVEN : The Newest Normal
07/24 Samsung Wants A Piece Of TSMC
07/24 SNAP : The Next Twitter?
07/24 Why You Should Sell Your Apple Shares Before The Next iPhone Release
07/24 Look Beyond The Storm Clouds Hovering Over Silicon Motion
Financials ($)
Sales 2017 225 901 M
EBIT 2017 60 440 M
Net income 2017 46 573 M
Finance 2017 160 837 M
Yield 2017 1,55%
P/E ratio 2017 17,13
P/E ratio 2018 14,43
EV / Sales 2017 2,80x
EV / Sales 2018 2,39x
Capitalization 792 973 M
Chart APPLE
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 159 $
Spread / Average Target 4,7%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri CFO, SVP & Vice President-Human Resources
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE29.74%792 973
HP INC29.04%32 387
HEWLETT PACKARD ENTERPRISE CO3.69%29 573
SEAGATE TECHNOLOGY PLC3.69%11 794
PEGATRON CORPORATION--.--%8 398
LENOVO GROUP LIMITED4.87%7 041