• The European Commissionís Investigation into Apple's Irish Tax Deal is Extended to 2016

    As officials in Brussels continue to gather more information, the European Union investigation into whether Appleís tax arrangement with the Irish government amounts to illegal state aid has been delayed once again. A spokesperson from the European Commission said the following regarding the matter to the Financial Times:

    We do not expect any decision until after the new year.
    For those of you who didnít know, this is the second such delay this year. Although the case was originally thought to be concluded, it was first pushed back in early May and then again now. The European Commissioner for Competition, Margrethe Vestager, said the following at the time:

    We will not sacrifice the rule of law or the quality of our work to speed up the process.
    The delay the first time around was blamed on the ďtime consumingĒ process of gathering information.

    Throughout this whole time, Apple has maintained that its arrangement with Ireland is entirely legal, though the company is still preparing itself in case the decision takes the opposite turn. In its recent quarterly report, Apple wrote the following regarding the matter:

    If the European Commission were to conclude against Ireland, it could require Ireland to recover from the company past taxes covering a period of up to 10 years reflective of the disallowed state aid, and such amount could be material.
    Apple isnít the only one being investigated for this type of tax arrangement. As of right now, Amazon and Luxembourg are being investigated as well as Starbucks and the Netherlands. Weíll have to wait and be patient to see how this one turns out.

    Source: The Financial Times
    This article was originally published in forum thread: The European Commissionís Investigation into Apple's Irish Tax Deal is Extended to 2016 started by Akshay Masand View original post
  • Connect With Us

  • Twitter Box

  • Facebook