EU Offered a Poisoned Olive Branch to Apple

The European Commission held out a poisoned olive branch to Apple and Ireland. The EC investigation says the special sweetheart deal Ireland gave Apple allowed it to book an EU-wide tax rate of just 1$ to 0.005% and is demanding €13 billion in back taxes for Ireland as recompense for the illegal state aid.
The poisoned olive branch was the Competition Commission’s suggestion that if taxes were admitted as booked through other EU countries that could reduced the Ireland bill. While being an admission and having to pay tax in those other countries.
Both Ireland and Apple are appealing the ruling vigorously.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , , . Bookmark the permalink.

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