Apple hit by Brussels finding over illegal Irish tax deals
Source: Financial Times
Apple will be accused of prospering from illegal tax deals with the Irish government for more than two decades when Brussels this week unveils details of a probe that could leave the iPhone maker with a record fine of as much as several billions of euros.
Preliminary findings from the European Commission’s investigation into Apple’s tax affairs in Ireland, where it has had a rate of less than 2 per cent, claim the Silicon Valley company benefited from illicit state aid after striking backroom deals with Ireland’s authorities, according to people involved in the case.
... Based on its concerns, the commission has decided to open an in-depth investigation of arrangements between Apple and the Irish authorities dating back to 1991. It is part of a wider crackdown on what Joaquín Almunia, the EU’s competition commissioner, has called “aggressive” multinational tax avoidance.
Brussels is also investigating similar deals between Starbucks and the Dutch government, and Fiat Finance and Trade, the financial arm of the automotive group, with Luxembourg.
Read more: http://www.ft.com/cms/s/0/ae979ad0-4708-11e4-8c50-00144feab7de.html
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