A Quote by Margrethe Vestager
A huge part of Apple profits generated in Europe, in African countries, Middle East, and India were all booked in Ireland. And I think it is a very basic principle in taxation that your profits are taxed where the profits are generated.
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Cyprus had developed its financial center over three decades ago by having double taxation treaties with a number of countries: the Soviet Union, for example. That means if profits are booked and earned and taxed in Cyprus, they are not taxed again in the other country.
The Business Profits Tax, which is imposed on in-state businesses, we need to impose the same thing on out-of-state businesses, because the way the Business Profits Tax is calculated, it is highly dependent on how much sales and profits are generated in-state.
In Ireland here, the Revenue Commission have always been completely independent of the state since 1923, and they are quite adamant and quite clear that there was no preferential treatment and no special deals, no sweetheart deals, and that Apple paid the taxes that were due on their profits generated here in this country.
Ireland cannot become the collector general for the world. We can only tax on profits generated in the country here.
Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.
The danger of tautological propositions is considerable in discussions of the concept of normal profits. Because supernormal profits seem to invite newcomers to an industry and sub-normal profits seem to drive away those who are in an industry, some writers are inclined to define normal profits as the earnings of the fixed resources in an industry which neither grows nor declines in size or number of firms. It should be clear that such a definition is useless: it muddles together attractiveness and actual afflux, desirbility of entry and ease of entry, zero profits and monopoly rents.
When I say 'serve you better,' I mean 'increase our profits.' We newspapers are very big on profits these days.
If the present American laws concerning the taxation of the profits of corporations, the incomes of individuals, and inheritances had been introduced about 60 years ago, all those new products whose consumption has raised the standard of living of the 'common man' would either not be produced at all or only in small quantities for the benefit of a minority. The Ford enterprises would not exist if Henry Ford's profits had been taxed away as soon as they came into being.
In some cases, corporations engaged in this activity have as much as 16 percent of their profits generated through the holding of 'janitor's insurance.'
Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away
Everyone is now praying at the altar of every last dollar of profits to please shareholders. If you invest in your people and treat them well, it's a different way to increase profits.
In order to generate extraordinary profits, you must have a focus that is beyond profits. You need to focus on how you serve your clients.
I think the American people should see that the corporations abandoned them long ago. That people will have to build their own economies and rebuild democracy as a living democracy. The corporations belong to no land, no country, no people. They have no loyalty to anything apart from the base-line - their profits. And the profits today are on an unimaginable scale; it has become illegitimate, criminal profit - profits extracted at the cost of life.
Everything is always about people trying to make profit: Profits to this, profits to that, the more the merrier, and there's no end to it.
Too many companies these days can't tell the difference between good profits and bad.... By now you're probably wondering how in heaven's name profit, that holy grail of the business enterprise, can ever be bad. Short of outright fraud, isn't one dollar of earnings as good as another? Certainly, accountants can't tell the difference between good and bad profits. They all look the same on an income statement. While bad profits don't show up on the books, they are easy to recognize. They're profits earned at the expense of customer relationships.
Profits are the ultimate measure of how efficiently we provide customers with the best products for their needs. Profits are required to survive and grow.
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