EU slams Apple 13billion pounds tax fine
The European Union have ordered Apple to pay a whopping 13billion pounds worth of Irish taxes as her punishment for getting an undue business policy advantage over other businesses operating under same laws and tax guidance. According to the commission, member state is barred from giving tax preferences to any company under the operational laws of the EU.
According to Magrethe Vestager, the commissioner in-charge of competition policy, the EU is using this strident call as a clear message to all that the EU will not tolerate illegal state aid under her laws. " Member state cannot give tax benefits to selected companies-This is illegal under EU state aid rules. The commission's investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years
In fact, this selective treatment allows Apply to pay an effective corporate tax rate of of 1 per cent on its European profits in 2003 down to 0.005 per cent in 2014. The European commission has concluded that Ireland granted undue tax benefits of up to 13 billion pounds to Apple.
This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover it illegal funds".
The full statement on Apple’s Irish tax bill can be found here.
According to Magrethe Vestager, the commissioner in-charge of competition policy, the EU is using this strident call as a clear message to all that the EU will not tolerate illegal state aid under her laws. " Member state cannot give tax benefits to selected companies-This is illegal under EU state aid rules. The commission's investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many yearsIn fact, this selective treatment allows Apply to pay an effective corporate tax rate of of 1 per cent on its European profits in 2003 down to 0.005 per cent in 2014. The European commission has concluded that Ireland granted undue tax benefits of up to 13 billion pounds to Apple.
This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover it illegal funds".
The full statement on Apple’s Irish tax bill can be found here.
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