EU likely to hand Apple Irish tax bill of over 1 bln euro- source
Source: Reuters
DUBLIN, Aug 29 (Reuters) - The European Commission will rule against Ireland's tax dealings with Apple on Tuesday, two source familiar with the decision told Reuters, one of whom said Dublin would be told to recoup over 1 billion euros in back taxes.
The Commission declined to comment on Monday.
The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland rejected the accusation and have both said they will appeal any adverse ruling.
The source said the Commission will recommend a figure in back taxes that it expects to be collected but it will be up to Irish authorities to calculate exactly what is owed.
Read more: http://news.trust.org/item/20160829174116-ssozn/
forest444
(5,902 posts)Looks like the luck of the Irish ran out for the Benedict Arnolds at Apple.
OnDoutside
(19,962 posts)yeoman6987
(14,449 posts)Having an over leadership tell you how to conduct business is not what Americans want.
TonyPDX
(962 posts)Who's going to fight for legislation that makes offshoring of profits illegal? Chuck Schumer?
wordpix
(18,652 posts)There are no doubt many others.
OnDoutside
(19,962 posts)Puerto Rico, Belgium and Switzerland.
nitpicker
(7,153 posts)Spider Jerusalem
(21,786 posts)The commission has been examining Apples tax deals with Ireland for three years. The deals have allowed the US company to pay very little tax on income earned throughout Europe.
The commission opened a formal inquiry in September 2014 after initial findings concluded the arrangements amounted to state aid incompatible with the single market.
https://www.theguardian.com/business/2016/aug/30/apple-pay-back-taxes-eu-ruling-ireland-state-aid
OnDoutside
(19,962 posts)Reputationally, the Irish Government will defend their corner.
In a statement, Apple said it will appeal the ruling and is "confident the decision will be overturned".
"The Commission's case is not about how much Apple pays in taxes, it's about which government collects the money."
The Government has said it disagrees profoundly" with the Commissions analysis and will immediately appeal any negative outcome to the European Court of Justice.
Minister for Foreign Affairs and Trade Charlie Flanagan has said Ireland did not give any favourable tax treatment to Apple, saying "we don't do deals with corporations".
Speaking on RTÉ's Today with Sean O'Rourke, Mr Flanagan said he and and the Government "disagrees profoundly" with the analysis of the European Commission on the matter.