RSS   Newsletter   Contact   Advertise with us
Post Online Media
Taxes   The European Commission accused Ireland in 2014

Apple fights for 0.005 percent tax with Ireland's supports

Apple IrelandApple will launch a legal challenge this week to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty.

European Competition Commissioner Margrethe Vestager, a former Danish economy minister, said Apple's Irish tax bill implied a tax rate of 0.005 percent in 2014.

Article continues below

READ MORE Apple shareholders reject board proxy proposal

Apple intends to lodge an appeal against the Commission's ruling at Europe's second highest court this week, its General Counsel Bruce Sewell and CFO Luca Maestri told Reuters in an interview at the company's global headquarters in Cupertino.

The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland denied the accusation.

Both Ireland and Apple laid out the legal arguments that would form the basis of their appeals.

"The Commission has manifestly breached its duty to provide a clear and unequivocal statement of reasons in its decision, in relying simultaneously on grossly divergent factual scenarios, in contradicting itself as to the source of the rule that Ireland is said to have breached, and in suggesting that Ireland granted aid in relation to profits taxable in other jurisdictions,” the Irish government said in a statement.




What to read next



 
 

We use cookies to ensure that we give you the best experience on our website. Please allow cookies for fully-functioning website.

Allow Cookies Privacy Policy