The founder and chairman of one of the U.K.'s leading pub chains has lambasted the current tax regime in Europe, saying the rules seem to favor large technology companies such as Apple.
When asked about the recent furor surrounding Apple, which has been ordered to pay $14.5 billion to the Irish government, he said that he wished "he could sell people a pint of beer over the internet."
"It would reduce our tax bill enormously," J D Wetherspoon Founder and Chairman, Tim Martin, told CNBC Friday.
Earlier this month, the European Commission ruled that Ireland must claw back billions in unpaid taxes from U.S. tech giant Apple. It has caused shockwaves in the business world with questions now being asked over the future of multinationals in Europe and international taxation rules.
However, Martin's main gripe was not corporation tax but sales tax, which amounts to 20 percent on most goods and services in the country.
"The main issue for pubs in Britain, and restaurants, is supermarkets pay no VAT (value added tax) on food and we pay 20 percent," he said.
"That's a real killer over the long run especially in less well-off areas where the tax differential matters. And people go to supermarkets and stay out of pubs, that's bad for the economy, bad for jobs."
Relax UK pub chain on Apple tax issue: 'I wish we could sell beer over the internet' stories
The Former CEO of Best Buy cautioned that if the EU is going after Apple for taxes, other multinationals like Google, McDonald's and Amazon could be next.
The European Commission’s ruling that Apple should pay Ireland billions of dollars in back taxes was neither punitive nor unfair, one of the world’s best-known economists told CNBC on Thursday.
The European Union's fight for Apple's tax money may actually create setbacks for tax reform, a former U.S. tax authority told CNBC.
The EU's move to make Apple pay Ireland $14.5 billion in back taxes just shows that the UK was smart to vote to leave the EU, says Jake Novak.
Fidelity has been quietly lobbying politicians in favor of a new tax break that would encourage employers to help pay off employees' student debts.
Refusing to bring big profit stateside, Tim Cook says there's nothing patriotic about paying high taxes, the Apple CEO told The Washington Post.
Both Trump and Clinton intend to end carried interest if elected president. That wouldn't just hurt the rich, it would hurt America, these VCs say.
Will County Supervisor of Assessments Rhonda Novak will conduct a property tax assessment forum at 6:30 p.m. on Aug. 9 at the Homer Township Old Town Hall, 16057 S. Cedar Road, Lockport.
This election year, Western Springs residents will not only choose who they want as president of the United States, they will also decide if they want a tax increase fund repairs of aging streets.
Following several resident complaints over the threat of eminent domain, the village of River Forest is hoping a redesigned Madison Street plan will help move its proposal forward.