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European Commission to accuse Apple of benefiting from 'illicit tax deal' in Ireland European Commission to accuse Apple of benefiting from 'illicit tax deal' in Ireland
(about 4 hours later)
Technology giant Apple will be accused of violating EU laws after it benefited from illicit state aid in Ireland in a scathing report by the European Commission. Technology giant Apple will be accused of benefiting from illicit state aid in Ireland and violating EU laws by the European Commission this week.
Details of the probe into Apple's tax deal in Ireland, reported by the Financial Times citing sources familiar with the matter, could see the iPhone maker handed billions of euros in fines. The European Commission launched a formal investigation into the tax affairs of Fiat in Luxembourg, Starbucks in the Netherlands and Apple in Ireland in June.
Back in June, the European Commission launched a formal investigation into the tax affairs of Fiat in Luxembourg, Starbucks in the Netherlands and Apple in Ireland. At the time, the European competition watchdog argued the deals approved by all three states may have resulted in an overly favourable treatment for the three multinationals.
At the time, the European competition watchdog argued the deals approved by all three states may have resulted in favourable treatment for the three multinationals. In Apple's case, the Commission will focus on two tax deals agreed between Irish authorities and the Cupertino giant in 1991 and 2007 on the grounds that it amounted to illegal state aid, the Financial Times reported.
In Apple's case, the Commission will focus on two tax deals agreed between Irish authorities and the Cupertino giant in 1991 and 2007 on the grounds that it amounted to illegal state aid. The Commission's reasons for opening an in-depth investigation Apple and Fiat will be published tomorrow.
Under the EU's state aid rules, national authorities cannot take measures allowing certain companies to pay less tax than they should if the tax rules of the member state were applied in a fair and non-discriminatory way. Under the EU's state aid rules, national authorities cannot take measures allowing certain companies to pay less tax than they should if the tax rules of the member state were applied in a fair and non-discriminatory way. If substantiated, Apple could be asked to pay back billions of euros.
The Irish government has repeatedly denied offering Apple special treatment. Apple has always insisted it complies with all relevant rules and has not benefited from sweetheart deals in the country.The Irish government has repeatedly denied offering Apple special treatment. Apple has always insisted it complies with all relevant rules and has not benefited from sweetheart deals in the country.
Today, Irish authorities said it welcomed the "opportunity to clarify important issues about the applicable tax law" and insisted that Apple was taxed "fully in accordance with the law".
Apple's decision to set up its international headquarters in Ireland, where it paid less than a 2 per cent rate in 2012, has come under intense scrutiny with some critics arguing that the country effectively serves as a tax haven for the American technology giant.Apple's decision to set up its international headquarters in Ireland, where it paid less than a 2 per cent rate in 2012, has come under intense scrutiny with some critics arguing that the country effectively serves as a tax haven for the American technology giant.
The full report on Apple and Fiat will be published tomorrow. The investigation into Starbuck’s tax deal is yet to be completed. Starbucks says it complies with all relevant rules and vowed to study "the commission's announcement" when the Commission first launched its probe in June. At the time, Fiat said it did not think it received a special treatment in Luxembourg.