Corporate tax rates in Ireland are especially advantageous to multinational firms. That's why Apple, Google, and Facebook all have their European headquarters on the Emerald Isle.
Billions are expected to flow into Ireland's coffers through September as the tech giant shells out for 10 years of tax breaks that have been ruled illegal. Yet, Ireland and Apple continue to dispute the EU's orders.
After Trump reiterated his anti-free trade rhetoric at the G7, European Commission chief Jean-Claude Juncker hit back with a more traditional weaponry known as "the facts." German automakers eye proceedings nervously.
The EU has unveiled a proposal to overhaul how multinational tech giants are taxed in the 28-nation bloc to prevent the companies from exploiting tax loopholes. The move is likely to exacerbate global trade tensions.
European finance ministers are worried. They say the United States' big tax reform bill contains measures that would unfairly disadvantage European business and contravene global fair-taxation rules. Are they right?
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