Apple Faces Billions in Taxes Over Alleged Improper Deal With Ireland

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

Sept. 30 — Ireland's transfer pricing tax arrangements with Apple Inc. improperly allow Apple to shift profits and pay a tax rate less than other companies based in the country, according to details released Sept. 30 by the European Commission.
At the same time, the EU executive body, which has the power to force EU member state governments to retrieve illegal state aid, also accused Luxembourg of providing similar selective tax treatment to the financing arm of carmaker Fiat SpA, known as Fiat Finance and Trade Ltd.
The accusation, based on documents the European Commission garnered only through legal action against the Luxembourg government, comes as the country's former prime minister and finance minister, Jean-Claude Juncker, prepares to take over as the next commission president in November.

Request Daily Tax Report