EU To Rule On Apple’s Irish Deal
Irish Finance Minister Michael Noonan says he expects the European Union’s regulator to rule in coming months on the long-running probe into Apple’s tax arrangements with Ireland – an issue of great interest to the Australian Government, which has also been looking into Apple-Irish-Dutch arrangements.
The European Commission in 2014 accused Ireland of dodging international tax rules by letting Apple shelter profits worth some tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland have rejected the accusation.
Noonan last week met with EU antitrust tsar Margrethe Vestager to discuss the matter, and reported: “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.”
The investigation could see Apple forced to pay substantial back taxes, not only in Europe, but ultimately in other jurisdictions, including Australia.