Okay, Who’s Next For A Tax Grab?
With Apple under the EU pump the spotlight has turned to other US technology companies that could face similar tax demands.
These include online retail giant Amazon, search behemoth Google and the Big Kahuna in social media, Facebook.
Facebook has major operations in Ireland with similar tax arrangements to Apple. Facebook said it paid all taxes required by law where they operate, as did Apple.
Facebook didn’t detail their tax arrangements in Ireland where it has recently unveiled new headquarters and a data centre outside Dublin.
Facebook’s tax practices in Ireland are currently under investigation in the US with tax authorities saying Facebook may have undervalued some of its assets by billions of dollars.
In a quarterly filing in July Facebook said it may have to fork out US$3 billion to $5 billion in additional taxes as a result of the probe.
Online retailer Amazon is also under EU scrutiny over the tax status of it Luxembourg tax hub.