Apple Received $14.5 Billion in Illegal Tax Benefits From Ireland
August 30 2016 - 6:36AM
Dow Jones News
By Natalia Drozdiak in Brussels and Sam Schechner in Paris
BRUSSELS--The European Union's antitrust regulator demanded that
Ireland recoup roughly EUR13 billion ($14.5 billion) in unpaid
taxes from Apple Inc., a move that could intensify a feud between
the EU and the U.S. over the bloc's tax probes into American
companies.
The European Commission Tuesday said the tax arrangements
Ireland offered Apple in 1991 and 2007 allowed the company to pay
less than 1% or almost zero tax on its European profits for more
than 10 years, between 2003 and 2014.
"The commission's investigation concluded that Ireland granted
illegal tax benefits to Apple, which enabled it to pay
substantially less tax than other businesses over many years," said
European antitrust commissioner Margrethe Vestager.
Both Apple and Ireland can appeal the decision in court.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com and Sam
Schechner at sam.schechner@wsj.com
(END) Dow Jones Newswires
August 30, 2016 06:21 ET (10:21 GMT)
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