European Commission To Issue Apple An Irish Tax Bill of $1.1 Billion, Says Report (reuters.com)

An anonymous reader quotes a report from Reuters: The European Commission will rule against Ireland's tax dealings with Apple on Tuesday, two source familiar with the decision told Reuters, one of whom said Dublin would be told to recoup over 1 billion euros in back taxes. The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland rejected the accusation; both have said they will appeal any adverse ruling. The source said the Commission will recommend a figure in back taxes that it expects to be collected, but it will be up to Irish authorities to calculate exactly what is owed. A bill in excess of 1 billion euros ($1.12 billion) would be far more than the 30 million euros each the European Commission previously ordered Dutch authorities to recover from U.S. coffee chain Starbucks and Luxembourg from Fiat Chrysler for their tax deals. When it opened the Apple investigation in 2014, the Commission told the Irish government that tax rulings it agreed in 1991 and 2007 with the iPhone maker amounted to state aid and might have broken EU laws. The Commission said the rulings were "reverse engineered" to ensure that Apple had a minimal Irish bill and that minutes of meetings between Apple representatives and Irish tax officials showed the company's tax treatment had been "motivated by employment considerations."

Comments

We Americans should hit Apple with an European tax

[140Mandak262Jamuna]

What Ireland did to Europe is exactly what Europe is doing to America. We should cite this European ruling as a precedent and hit Apple with 2 billion dollars of dodged taxes.

The corporate tax has been shrinking in America and the burden has been foisted on individuals. It is time to reverse the decades old trend.

Re:For what, the last 20 years?

[BitterOak]

Its also about what would happen to you, the private citizen if you pulled this shit. HUGE penalties on top of what was owed and decades in jail in most countries....

Really? Private citizens would get in trouble if their government gave them tax breaks? Ireland and Apple entered into a voluntary agreement whereby Apple would keep jobs in Ireland in exchange for more favorable tax treatment. If this violates EU regulations, then it is the Irish government, not Apple, that is in the wrong, and it is the Irish government which should pay the back taxes.