Hip hip, hooray. Ireland has secured a reverse lottery win. Europe's second-highest court has said that Apple does not owe Ireland €13bn in back tax.
"Ireland has always been clear that there was no special treatment provided to the two Apple companies — ASI and AOE. The correct amount of Irish tax was charged... in line with normal Irish taxation rules," the Department of Finance said.
e have only racked up a Covid-19 debt of €20bn for the pandemic payment and the wage-subsidy scheme. Yet, we're happy to forgo a mouth-watering lump sum, knowing that in doing so we will attract other global conglomerates and multi-nationals keen to avail of our generous corporation tax.
Bring them on. What's wrong with fiscal compromise, when the rewards are so big?
In the idyllic Garden of Eden, taking a bite out of an 'Apple' was the grim harbinger of a fall from grace, ushering in an 'eternity' of struggle and strife for humanity. Temptation won out, but the gain was momentary.
The upshot in the long-term was suffering. The tech giants, the pharmaceutical companies, and the vulture funds will pick over the carcass of Ireland post-Covid-19.