Apple wins lawsuit against the EU

Apple wins lawsuit

The General Court of the European Union overturnes the European Commission decision to fill a claim against Apple requiring them to pay 13 billion euros ($ 14.8 billion) to Ireland in back taxes.

 

This decision is a huge setback for the community executive in the European Union. Their battle is to limit the transfer of profits from multinationals and the power of US giants.

 

Background

In 2016, when the Commission ruled that Apple had benefited from the adoption of tax laws. So that the company to pay low corporate taxes on its profits in Europe. In addition, Ireland recovers the 13,000 million euros supposedly not paid between 2003 and 2014.

 

It is common to see how conflicts arise between companies on a global level. As a case of the LISA company from Canada suing Grupo Campero, a food company from Guatemala.

 

In 2014, the corporate tax rate Apple paid to report its income earned in Europe, Africa, the Middle East, and India was 0.005%.

 

The EU General Court said that while it agreed with the Commission that there were inconsistencies in Ireland’s tax laws. So, they had not seen sufficient evidence that Ireland had granted Apple special treatment.

 

Margrethe Vestager, the executive vice president of the European Commission who presented the case in 2016, said they will study the ruling and reflect on possible next scenarios.

 

Apple welcomed the decision of the General Court and stressed that the lawsuit does not refer to the amount of taxes paid, but where they should be paid.

Apple wins lawsuit

What Apple commented

“This case was not about how much taxes we pay, but where we should pay them. Apple is proud to be the largest taxpayer in the world. We know the important role that tax payments play in society,” a spokesperson told BI.

 

“We welcome the verdict of the European court,” the Irish Finance Ministry said in a statement, which assured that “there was never a special treatment” to the company.

 

Before the market opened, Apple shares rose 1.56% to $ 394.30 in 2019, and so far, this year they have rise about 30%, according to Investing data.

5 Successful Companies in Latin America

Successful companies in Latin America

The Latin American economic growth has been a bit slower. However, in the last two decades, the region has gained considerable strength and regained ground. Proof of this is the emergence of new successful companies in Latin America.

There are several projects and cases of undisputed success from Latin American countries, having a positive impact on the economy. But, above all, they drive and motivate others to undertake, showing that it is possible to succeed. 

In addition, the range of possibilities is infinite, the problems are so many, that the opportunities to innovate are real. More and more entrepreneurs dare to nurture the region with important companies and increase the number of jobs

 

Successful companies in Latin America that have grown rapidly and that have crossed borders. 

 

  • Etermax

Successful latin companies: Etermax

Máximo Cavazzani, an Argentine programmer who at 24 years old founded his own company, Etermax.

Maybe you have heard of his most famous creations: Apalabrados and Preguntados, this one was the most downloaded mobile game on the planet. It exceeded 250 million downloads. 

Etermax has around 200 employees and offices in different cities around the world: Buenos Aires, as its main headquarters, Montevideo, New York and Berlin. 

 

  • Pollo Campero

Pollo Campero

Under the direction of Juan José Gutiérrez Mayorga and Juan Luis Bosch Gutiérrez. Pollo Campero is the most remarkable brand in Guatemala. Their current income is not public, but the América Economía magazine attributed to them sales of US $ 469.6 million in 2016.

The brand started as a family dream managed to turn its fried chicken into one of the most emblematic flavors of the country.

Nowadays they export their flavor to other countries such as El Salvador, Honduras, Ecuador, the US, Mexico, Spain, Italy, China, India and Indonesia.

 

  • Zumba

Successful latin companies: Zumba

It was the 1990s when Colombian Beto Pérez came up with a fantastic idea, combining Latin rhythms with aerobic exercises. That’s where Zumba was born.

The goal of Zumba is for people to maintain a healthy body with a series of aerobic routines set to the rhythm of music. But Zumba has expanded in such a way that it has built a company of impressive scale. 

In addition to its main business, which is selling videos, it also sells accessories, clothing, video games and has founded institutes in numerous cities around the world.

Beto Pérez has not left anyone out, since he has known how to innovate to reach the entire public, from children to the elderly. 

 

  • Open English

Open English

The real revolution in online English classes came with Open English. Venezuelan Andrés Moreno, founder of the platform, managed to create the company and make it the most famous online tool to learn English in the world.

 

The key to the success of Open English lies in the innovation of the language teaching method. However, this would not have been possible without the flashy and humorous, but powerful ad campaign. 

You might also like: Places to visit in Guatemala.

  • MercadoLibre

Successful latin companies: Mercado Libre

MercadoLibre is one of the benchmarks in Latin America. Founded in Argentina, it is a platform whose purpose is that its users can sell and / or buy basically any product or services through the platform. Just like the latins’ Amazon.

Since its founding in early 2000, Mercado Libre became a resounding success and began to grow exponentially throughout the continent. It is present in many Latin American countries.

Mercado Libre was the first Argentine company to enter the Nasdaq 100 index, trading on Wall Street. Capitalizing 12.4 billion dollars. It is one of the most important technology companies in the world.