Apple is Evading taxes: EU

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The European Union commission has incriminated Ireland of conceding “state aid” tax breaks to Apple that may break market rules. This was part of an investigation that was carried out by the Organisos xation for Economic Cooperation and Development (OECD) over Irish deals that were made in 1991 and 2007. During the investigation, the OECD asked Ireland to provide more information about its tax arrangings with Apple and other companies like Fiat. They are also looking into Luxembourg and the Netherlands as part of a larger probe to determine whether certain EU nations favor large companies. Apple gets a 12.5 percent, lower tax rate than any other EU country.

According to Business insider, it has already been established by the US Senate, that Apple shuffles money around countries and subsidiaries to avoid paying nearly $20 million a day in taxes — and the EU seems to have a more subdued view of its strategy.

 

Source: European Commission

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