Posted September 30, 201410 yr The European Union is apparently set to accuse Apple of taking illegal tax aid from Ireland. The aid allegedly came in the form of sweetheart deals that resulted in a much lower tax rate. Apple currently enjoys a very low tax rate in Ireland, and the company says that no laws were broken in their deal with Ireland, where it's been operating for more than thirty years, according to the Financial Times: Apple, which has operated in Ireland since 1980, maintains that its agreements with Ireland did not break any laws. "There's never been any special deal, there's never been anything that would be construed as state aid," Luca Maestri, Apple's chief financial officer, told the Financial Times. Both Apple and Ireland deny that the company has received any special treatment. Apple is one of a number of businesses that operates in Ireland due to favorable corporate tax rates. These accusations against Apple will come at a time when Europe is beginning to crack down on tax avoidance by international companies. What sort of action should the EU take against Apple and Ireland over this tax deal. Source: Financial Times, via The Guardian Continue reading...
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