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.”
The EU originally promised to reach a decision on the matter by Christmas of 2015, but had to push it back for further investigation.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
4 responses to “Will EU hammer Apple for Irish tax arrangements? We’ll know soon”
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I hope they will hammer them. I love Apple and own their products but how come they sell stuff in 28 countries, pay taxes in just 1 of them ( if you didn’t know, Apple doesn’t pay taxes in country of sale as they move all their earnings to Ireland ), and pay only 2% of tax ( sic! ) when everybody else has to pay between 10 and 20%, including regular citizens paying 20-something % income tax ?
Sorry but that’s not normal and not ( or at least should not ) be legal under any arrangement.
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Ireland should pay the taxes not Apple.