UPDATE: Apple (AAPL) May Face Billions of Arrears in Irish Tax Case - Bloomberg
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Apple (AAPL) Determined to Receive Up to EUR13 Billion in Undue Irish Tax Breaks - EC
August 30, 2016 6:12 AM EDTThe European Commission released the following on Tuesday:
The European Commission has concluded that Ireland granted undue tax benefits of up to 13 billion to Apple. This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid.
Commissioner Margrethe Vestager, in charge of competition policy, said: "Member States cannot give tax benefits to selected companies this is illegal under EU state aid rules. The Commission's investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it... More
