“The European Commission has told Ireland it may investigate more companies as part of a probe into the country’s tax practices, after announcing a formal probe into Apple Inc’s Irish subsidiaries, a person familiar with the matter said on Friday,” Foo Yun Chee reports for Reuters.
“The EU is investigating whether Ireland, Luxembourg and the Netherlands have attracted investment and jobs by helping big companies avoid tax in other countries, including EU members,” Foo Yun Chee reports. “Corporate profit-shifting has come under the international spotlight in recent years following reports of how companies such as Apple and Google Inc. use complex structures to slash their tax bills. The Commission suspects Ireland was too lenient in rulings it gave to Apple and which helped the company shield tens of billions of dollars in profit from tax and has asked Dublin for information on the rulings it gave the iPhone maker.”
“Apple has denied receiving selective treatment from the Irish authorities. Ireland, the Netherlands and Luxembourg said any tax rulings they give are in line with international practices,” Foo Yun Chee reports. “An Irish finance ministry spokesman said the ministry had no knowledge of the EU threat. ‘We have provided information to the Commission for the information-gathering exercise and in relation to any case, it regards one company and one company only and we haven’t been informed of anything in addition to that,’ he said.”
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MacDailyNews Take: Blah, blah, blah.
How this will affect Apple? Zero, zilch, nada.
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