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Tax and bend

Apple tax fight is two wrongs in search of a right

John Foley 

John Foley The trickiest question for contemporary capitalism is unpicking the distinction between what's fair and what's permitted. Europe's pursuit of companies like Apple, Amazon and Starbucks for under-paid taxes, and the angry response of the US Treasury on Wednesday, show the problem, and why there is little prospect of a global solution. All sides agree multinationals pay too little tax. Conflict springs from how little, and who gets to decide. European antitrust chief Margrethe Vestager says Apple and its peers were given unfairly advantageous tax deals by Ireland, Luxembourg and ...

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First Published: Thu, August 25 2016. 21:31 IST