Dec 19, 2016

Apple and Ireland to challenge EU tax ruling this week

EU regulators ruled Apple's controversial tax deal was illegal, and is demanding the record penalty. Apple's European headquarters are located in Ireland - where the standard rate of corporate tax is 12.5%. But in August, the commission said Ireland had enabled the company to pay substantially less than other businesses, in effect paying a rate of no more than 1%. Ireland's finance ministry said in a strongly-worded statement on Monday that the European Commission had "Misunderstood the relevant facts and Irish law". "Ireland did not give favourable tax treatment to Apple - the full amount of tax was paid in this case and no state aid was provided," it said. Apple's general counsel Bruce Sewell told Reuters that the commission had disregarded tax experts brought in by Irish authorities. Apple is not the only company that has been targeted for securing favourable tax deals in the European Union.

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