EU to rule on Apple tax avoidance by Christmas

Stefan Mileschin · 10th November 2015, 17:13

Ireland is expecting European Union regulators to issue a decision on the country’s tax deal with Apple before the end of the year.

The Irish finance minister said the move could force the iPhone maker to pay substantial back taxes.

The European Commission has already ordered Dutch authorities to recover $32.23 million from US coffee chain Starbucks and Luxembourg to do the same with Fiat Chrysler for its tax deals.

Rulings on Apple and Amazon’s tax arrangement with Luxembourg authorities are still pending.

Irish Finance Minister Michael Noonan said the Commission is likely to announce its decision by the end of the year.

“We are expecting an adjudication on Apple maybe in the next few weeks but certainly between now and Christmas. It remains to be seen whether that is adverse or negative but (we) will deal with that when the announcement comes.”

Apple said in April the EU investigation could have a material impact on its bottom line as it has been funnelling a large amount of its profits through the lower tax rated Irish government.

If it is forced to pay back all the tax it has avoided for the last few years a few peaks of its EU cash mountain will have to be paid back.

http://www.techeye.net/business/eu-t...e-by-christmas

10th November 2015, 17:13	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,964	EU to rule on Apple tax avoidance by Christmas Ireland is expecting European Union regulators to issue a decision on the country’s tax deal with Apple before the end of the year. The Irish finance minister said the move could force the iPhone maker to pay substantial back taxes. The European Commission has already ordered Dutch authorities to recover $32.23 million from US coffee chain Starbucks and Luxembourg to do the same with Fiat Chrysler for its tax deals. Rulings on Apple and Amazon’s tax arrangement with Luxembourg authorities are still pending. Irish Finance Minister Michael Noonan said the Commission is likely to announce its decision by the end of the year. “We are expecting an adjudication on Apple maybe in the next few weeks but certainly between now and Christmas. It remains to be seen whether that is adverse or negative but (we) will deal with that when the announcement comes.” Apple said in April the EU investigation could have a material impact on its bottom line as it has been funnelling a large amount of its profits through the lower tax rated Irish government. If it is forced to pay back all the tax it has avoided for the last few years a few peaks of its EU cash mountain will have to be paid back. http://www.techeye.net/business/eu-t...e-by-christmas

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
NASA successfully tests detect-and-avoidance system for drones	Stefan Mileschin	WebNews	0	18th September 2015 14:04
Authorities want collision avoidance tech to be a standard car feature	Stefan Mileschin	WebNews	0	10th June 2015 10:39
Apple ruled Christmas	Stefan Mileschin	WebNews	0	1st January 2015 08:26
Switched On: One box to rule them all	Stefan Mileschin	WebNews	0	27th May 2013 09:02
Apple's iPhone 5 brings another Christmas turkey	Stefan Mileschin	WebNews	0	3rd January 2013 07:14
Deleted File Recovery: Disaster Planning and Avoidance @ TechwareLabs	Stefan Mileschin	WebNews	0	22nd November 2011 07:45
GM demos accident avoidance system with brains and long range	Stefan Mileschin	WebNews	0	20th October 2011 07:03
Asus GTX 285 Matrix, the one to rule ?	leeghoofd	Articles & Howto's	0	5th August 2009 22:10
Is IBM a Rule Breaker?	Sidney	WebNews	0	6th May 2005 04:21
One DVD format to rule them all	jmke	WebNews	0	21st April 2005 22:12