Apple to be hit with massive EU tax bill, sources say - News Summed Up

Apple to be hit with massive EU tax bill, sources say


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; both have said they will appeal any adverse ruling. Ireland 'motivated by employment'When it opened the Apple investigation in 2014, the European Commission told the Irish government that tax rulings it agreed in 1991 and 2007 with the iPhone maker amounted to state aid and might have broken EU laws. The commission said the rulings were "reverse engineered" to ensure that Apple had a minimal Irish bill and that minutes of meetings between Apple representatives and Irish tax officials showed the company's tax treatment had been "motivated by employment considerations." Some opposition Irish lawmakers have urged Dublin to collect whatever tax the Commission orders it to.


Source: CBC News August 29, 2016 23:55 UTC



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