US fuss about Irish tax deals just election fever, says ex-Apple CEO

edward222 · Nov 6, 2015

Credit to: Tax News : US fuss about Irish tax deals just election fever, says ex-Apple CEO

The recent corporation tax controversy highlighted by US presidential hopefuls Hillary Clinton and Donald Trump is not damaging Irelands reputation as a place to do business, said the former chief executive of Apple, John Sculley.

According to Mr Sculley, the controversy is simply part of US election fever.

Known as the boss who fired Steve Jobs, Sculley believes the tax inversion drama surrounding the potential multi-billion merger of pharma giants Pfizer and Allergan is to be expected ahead of next years US election.

Tax inversion is the term for the relocation of a firms legal domicile to a lower tax country while usually keeping its material operations in the country of origin.

In the Pfizer/Allergan case, the latter is already based in Ireland, where our low 12.5pc corporation tax rate is controversial, and any merger would result in Pfizer benefiting from the lower one.
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US fuss about Irish tax deals just election fever, says ex-Apple CEO

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US fuss about Irish tax deals just election fever, says ex-Apple CEO

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