Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

France rejects U.S. proposal on international tax reform

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/06/2019 | 06:18am EST
French Finance Minister Bruno Le Maire attends a news conference in Boulogne-Billancourt

France rejects a U.S. idea for companies to opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith.

The Paris-based Organisation for Economic Cooperation and Development is in the midst of the biggest rewrite of international tax rules since the 1920s, aimed at updating them globally for the digital era.

But France and the United States are already on a collision course over the issue, with Washington threatening heavy duties on imports of champagne, cheeses and luxury handbags in retaliation for a separate French digital levy that would be replaced once any global OECD deal was struck.

U.S. Treasury Secretary Steven Mnuchin raised serious questions about the OECD proposals in a letter made public on Wednesday, jarring international officials by floating the idea of a "safe harbour regime".

He said Washington had serious concerns about any moves to abandon certain current taxation structures such as arm's-length transfer pricing, under which companies have to charge the market rate for cross-border transfers within in a group, and what is considered a taxable presence in a given country.

"Frankly I don't put a lot of stock in the American proposal for an optional solution where companies are free to decide," Le Maire told a conference on the French fashion industry.

"I haven't seen a lot of companies that freely accept to be taxed. We can always count on people's philanthropy, but it doesn't go very far for the public finances," he added.

Until Mnuchin's letter, the United States had been a strong force behind efforts to revamp international tax rules, which are increasingly being put to the test by the rise of big internet companies.

Many governments are deeply frustrated that such companies can legally book profits in low-tax countries such as Ireland regardless of where their clients are.

The OECD proposed in October giving governments more power to tax big multinationals in the country where the end client is. The proposal is to serve as the basis for negotiating the outlines of an agreement by January, with a final deal due later in 2020.

Le Maire said a solution where companies could opt in or out as they pleased would be unacceptable to France and other OECD countries.

He urged Washington to negotiate "in good faith", which he said meant on the basis that the new rules be binding. He said if the efforts at the OECD, tasked with making the proposals by the G20 group of major economies, fell through, EU countries should revive talks for a European digital tax.

By Leigh Thomas

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET 0.02% 1479.89 Delayed Quote.10.46%
AMAZON.COM 0.42% 1873.4594 Delayed Quote.0.91%
APPLE INC. -0.28% 317.67 Delayed Quote.8.54%
FACEBOOK -0.81% 220.45 Delayed Quote.8.23%
MICROSOFT CORPORATION 0.16% 167.2801 Delayed Quote.5.96%
NETFLIX -1.46% 335.1356 Delayed Quote.4.98%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APPLE INC.
09:57aDixons Carphone gets wrong number in Christmas trading update
RE
09:29aWALL STREET STOCK EXCHANGE : France and the U.S. bury the hatchet
08:20aMacron and Trump declare truce in digital tax dispute
RE
07:19aEXCLUSIVE : Apple dropped plan for encrypting backups after FBI complained - sou..
RE
06:19aINTEL : Apple lawsuit tests if an employee can plan rival startup while on payro..
RE
04:12aTalks on tech tax with U.S. still difficult - France's Le Maire
RE
02:48aELON MUSK : Surge in Tesla's Stock Price Fans a Fiery Investor Debate -- WSJ
DJ
01/20Apple Assembler Pegatron to Set Up Production Facilities in Vietnam, Bloomber..
DJ
01/20ELON MUSK : The Investor Clash Behind Tesla's Surge Toward $100 Billion in Marke..
DJ
01/20TIM COOK : Apple's Cook says global corporate tax system must be overhauled
RE
More news
Financials (USD)
Sales 2020 277 B
EBIT 2020 67 110 M
Net income 2020 57 021 M
Finance 2020 91 199 M
Yield 2020 1,00%
P/E ratio 2020 24,3x
P/E ratio 2021 21,2x
EV / Sales2020 4,72x
EV / Sales2021 4,38x
Capitalization 1 397 B
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 292,67  $
Last Close Price 318,73  $
Spread / Highest target 17,7%
Spread / Average Target -8,18%
Spread / Lowest Target -52,9%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE INC.8.54%1 397 321
SAMSUNG ELECTRONICS CO LTD--.--%358 250
XIAOMI CORP--.--%40 855
WINGTECH TECHNOLOGY CO.,LTD18.92%19 807
FITBIT, INC.1.67%1 752
MERRY ELECTRONICS CO LTD--.--%1 143