• Apple Fires Back at EU Allegations

    On Wednesday morning, as widely anticipated, the European Union announced a new tax evasion investigation of Apple. With EU authorities concerned that Apple has gone too far in its tax mitigation efforts - particularly with regard to the company's base in Ireland - it isn't clear what will come of the investigation. But one thing is certain. Apple is coming forward to deny any wrongdoing.

    “Apple pays every euro of every tax that we owe,” the iDevice maker tells Bloomberg Wednesday afternoon in an emailed statement. “We have received no selective treatment from Irish officials. Apple is subject to the same tax laws as scores of other international companies doing business in Ireland.”

    Fiat and Starbucks are two other multinational companies that will join Apple in this latest EU probe.

    Apple’s Irish tax dealings have also been subjected to much attention - and scrutiny - in the United States. In 2013, Apple negotiated a tax rate of just under 2% with Irish authorities. According to information provided by Apple to U.S. lawmakers, the Irish government had purportedly calculated Apple’s taxable income to produce an “effective rate in the low-single digits.”

    Source: Bloomberg
    This article was originally published in forum thread: Apple Fires Back at EU Allegations started by Michael Essany View original post
    Comments 1 Comment
    1. unison999's Avatar
      unison999 -
      If Apple received no selective treatment from Irish officials, there would not be a need to negotiate a tax rate for Apple.
      Just because every other multinational is doing it does not mean anything, you get one big company first and the rest will fall or negotiate a better deal later. Too bad Apple is the company that will be made an example of.
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