Apple’s tax drama in Europe will finally come to a close later this fall.
The iPhone-maker has come under scrutiny from the European Union due to its tax deal with Ireland that safe guards Apple from paying taxes on billions of dollars in profits. Ireland’s finance minister revealed that he has no idea which way the decision will go, but he was told it’s coming soon.
“Commissioner Vestager indicated to me that there wouldn’t be a decision in July but there would probably be a decision early in the autumn. My expectation is September or early October,” Michael Noonan told the press this week.
If Apple is found guilty of trying to avoid paying taxes by striking a sweet deal with Ireland, it could be forced to pay billions of euros in back taxes. The company has vowed to fight any unfavorable rulings.
“I didn’t discuss the potential decision but we did discuss the presentation of the decision,” Mr. Noonan said. “I have no indication of what way the decision will go or what the implications of the decision will be.”