Monday, August 29, 2016

Ireland: EU Commission might Irish tax deal finish with Apple – Times Online

The European Commission wants to explain the favorable tax conditions for Apple in Ireland for illegal state aid and thus pave the way for billions subsequent demands according to media reports. The decision could be announced as early as Tuesday, reported the Irish station RTE, the financial agency Bloomberg that Financial Times and Wall Street Journal informed citing people.

The EU Commission stated already during their years of investigation, Apple got favorable tax conditions to win the Group for the settlement in Ireland and the consequent creation of jobs. So that would be an anti-competitive aid from the perspective of the authorities in Brussels.

The Irish Government is, however, that the agreements are lawful and announced that it would go to court if the Commission should explain the tax deal inadmissible. Apple also did not rule out such a move. The group wants to be heard in Brussels fair, Apple CEO Tim Cook recently said in an interview with the Washington Post . Otherwise, Apple will file an objection.

Apple runs a substantial part of global business through subsidiaries in Ireland. Therefore, it could go for the Group and a lot of money. So one of the daughters is responsible to turn over units from Asia for sale in Europe. Also located in Ireland some intellectual property and also a portion of the profits will accordingly get paid.

According to reports, Competition Commissioner Margrethe Vestager will also make a recommendation for the amount of arrears that Ireland would require Apple. It could go to billion euros.

US companies do nothing earned money abroad to the home country, as doing so 35 to 40 percent of the amount would go to the Treasury , Apple had last cash reserves of more than $ 230 billion, which support more than 90 percent outside the US. The Group is committed to a tax reform in the United States. The US Treasury had recently criticized the EU tax investigation and criticized the Commission as a way to act on national tax authority and penalizing US companies.


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