On: Google and Apple Face Billions in Penalties After ...

[jdalgetty]

Let’s see how much of these fines actually get paid.

[TheFragenTaken → jdalgetty]

There's nothing regarding Google in the article, but it is specifically mentioned that Apple's back taxes are already in escrow.

[throw310822 → TheFragenTaken]

Since 2018. Can't help thinking that if with that money they had bought Apple shares, it would be now 3 times more.

[gopkarthik → throw310822]

What's ironic is that the escrow account is now lesser because they used that money to buy eurozone government bonds which have since fallen.

From https://www.ft.com/content/d6b7d0fd-a41b-45a9-a830-9cacb10c5...

> The total in the account has fallen from the original €14.3bn set aside in 2018, as the money was invested in eurozone government bonds, which have dropped in value.

[tivert → throw310822]

> Since 2018. Can't help thinking that if with that money they had bought Apple shares, it would be now 3 times more.

If only they could have known the stock price six years into the future, they'd have made a killing in the stock market!

[martimarkov → throw310822]

It would kinda be funny if they did as they probably not want Apple to get fined as now they’d be shareholders

[zelphirkalt → martimarkov]

Would also be funny, if they were allowed to increase the penalty, based on how much they could have done with that money during that time. Opportunity cost.

[r00fus → zelphirkalt]

The back taxes accrue interest - IIRC like €1.2B

[raverbashing → throw310822]

Even at their market cap, I don't think this would be trivial to operationalize

[oliwarner → jdalgetty]

Apple already has €1.2bn interest on top of their 2016 ruling. They could probably try to keep this in courts but it seems unlikely they'll get further hearings on this now.