Latest in Culture

Image credit:

EU says Apple's Irish tax deal is illegal

Share
Tweet
Share

Sponsored Links

An EU commission has accused Ireland of granting "state aid" tax breaks to Apple that may break market rules. That was the result of an investigation by the Organisation for Economic Cooperation and Development (OECD) over Irish deals brokered in 1991 and 2007. It has now asked Ireland to provide more information about its tax arrangements with Apple and other companies, including Fiat and Starbucks. The OECD also looking into Luxembourg and the Netherlands as part of a larger probe to find out if certain EU nations help multinational companies swerve taxes. At 12.5 percent, Ireland has a lower tax rate than any other EU country, and Cupertino's complex tax deals there have been questioned before. As the US Senate saw recently, shuffling money around countries helps Apple avoid nearly $20 million a day in taxes -- and the EU seems to have a dimmer view of its strategy than the SEC did.

[Image credit: pieceoplastic/Flickr]

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Roku is giving away 30 days of premium video

Roku is giving away 30 days of premium video

View
The first ‘Call of Duty: Warzone’ update aims to even the playing field

The first ‘Call of Duty: Warzone’ update aims to even the playing field

View
SpaceX launches its original Dragon capsule for the last time

SpaceX launches its original Dragon capsule for the last time

View
Comcast, Verizon make some on-demand viewing free

Comcast, Verizon make some on-demand viewing free

View
Facebook's experimental Stories feature lets users cross-post to Instagram

Facebook's experimental Stories feature lets users cross-post to Instagram

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr