Rotten Apples: EU rules that Ireland granted Apple undue tax benefits of a whopping €13 billion – TheLiberal.ie – Our News, Your Views

Rotten Apples: EU rules that Ireland granted Apple undue tax benefits of a whopping €13 billion




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The EU Competition Commissioner Margrethe Vestager has concluded that Ireland granted Apple a whopping €13 billion in undue tax benefits.

Effectively instead of paying the 12.5% corporation tax rate, Apple paid less than 1% tax.

The repercussions could see Apple paying €19 billion including a €6 billion fine.

According to a FT source familiar with the matter, Apple would have to restate its accounts as a result of the ruling. The US company allegedly paid tax at a rate of one percent, well below Ireland’s then official 12.5 percent corporate tax.

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