When the UK shuts down, it’s time for Apple to get its software license right
The UK has shut down for a third day after a vote that brought the government into the public eye.
The decision to cut off the government’s powers to tax the tech giant came as Prime Minister Theresa May was seeking a way to ease the country’s economic woes.
In an emergency order, the government banned the tech giants from operating in the country until they agreed to change their tax arrangements.
Apple had been the UK’s most valuable company, with annual revenue of $9 billion.
Apple CEO Tim Cook called the move “a disaster for the economy”.
Apple CEO Tim Apple had described the move as “a terrible thing to do” for the UK.
“They have to find a way out of it,” he said.
“The people voted against this, and they will have to deal with it.
It was not a popular decision and I think the people of this country made it clear that they are against this.”
The vote came amid a series of high-profile tax scandals in the UK that included Apple’s use of a tax loophole to lower its tax bill.
The company was ordered to pay £130 million in back taxes in the last financial year.
The government said that a second phase of a £1.5 billion settlement with Apple and other tech companies, including Google and Microsoft, would be negotiated in the coming days.
May’s government also set out a £600 million fund to fund the recovery of the economy, with a view to creating more jobs and investing in infrastructure.
On Tuesday, May announced that the UK would be taking over the tax authority’s functions, giving it greater independence from the Treasury.
The UK will also set up an independent regulator to oversee the tax treatment of businesses and individuals.
At least six technology companies have already signed up to help the UK recover from the crisis.
In a statement, Apple said it was “deeply disappointed” by the government action.
“Apple is committed to helping to restore confidence and confidence in the economy in Britain and is proud to be the UK government’s third-largest taxpayer,” the company said.
Follow Ben Kew on Twitter at @ben_kew.
More to come.