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RIM’s $7.2bn acquisition of Nokia could trigger a US tax bill of $9.3bn

August 25, 2021 Comments Off on RIM’s $7.2bn acquisition of Nokia could trigger a US tax bill of $9.3bn By admin

By David Shepardson, BBC News US President Donald Trump has made it clear he’s not about to let US companies off the hook when it comes to the billions they pay in tax in the US.

It’s not a position he shares with the tech industry, which is worried that Trump is trying to force them to pay more in taxes.

But that could make things tricky for US companies, which have long argued that the US tax system rewards multinationals who pay a higher rate.

That could cause a problem for companies in the United States that do pay taxes in the UK.

RIM and Microsoft have agreed to a $7 billion deal that is expected to be completed by the end of the year.

The deal is a big win for the US, which has been struggling to get multinationals to come to terms with a new US tax code.

RIAA boss complains over Trump’s ‘unfair’ tax policy, but Apple’s tax lawyers ‘are doing great’ The deal, which will also see RIM pay US$3.4 billion in taxes on revenues of $11.3 billion, will also make it possible for Apple to pay less in US taxes, but the tax impact on the US dollar is expected be much smaller.

It comes after Apple and Microsoft announced the agreement earlier this month.

Rivea CEO Richard Smith said in a statement that he was “surprised” by the announcement.

“It’s not what we would have expected from a US company, which we view as an international leader in innovation, and that we feel is a win-win for the American people,” he said.

Rival companies are now worried that the Trump administration could impose a punitive tax regime.

“This is not a time to be complacent, this is a time for action,” said Richard Smith, chief executive of Riveas software arm, RIM.

“If this is what happens then we’re going to be doing a lot of business overseas.”

Microsoft, Apple and RIM agreed to the deal last month to give the US Treasury more leeway to negotiate its tax code and also to work towards the goal of a more fair and level tax system.

Raimonds tax lawyer, Michael Auerbach, said the deal was “a huge win for consumers and taxpayers alike”.

He said that while RIM had already negotiated a fair tax deal for its employees, it had also been able to work with US companies to develop software products that would help lower corporate taxes.

“We’re pleased to have a partner with whom we can further develop our software in a way that will help lower taxes in this country,” Mr Auerbeck said.

“The American public benefits greatly from a more level playing field for all companies and individuals in this tax code, and we are committed to helping this important work happen.”

He added: “Our tax lawyers have worked hard to develop a fair agreement for our employees and we will continue to pursue our tax reform work in a fair manner.”

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