The European Commission is deepening its probe into whether Ireland offered illegal preferential tax terms to Apple, reports the Financial Times.
Irish authorities had expected the case to conclude shortly but instead they have been sent bulky sets of supplementary questions. This likely means a final verdict won't be reached until after the countries election which will take place around February 2016.
The probe began back in 2014 and a verdict was originally expected earlier this year. An Irish finance ministry spokesperson confirmed that they would be supplying additional information to the EU. “We do not expect any decision until after the new year,” said the spokesman.
If Apple's tax arrangement with Ireland is found to be illegal the company could be on the hook for ten years of back taxes amounting to billions of euros. Apple CEO Tim Cook says Apple will stay in the country even if the EU rule against Ireland's tax agreement with the company, noting there is no "special deal" in place and that Apple is paying 12.5% on all revenue generated there.
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Irish authorities had expected the case to conclude shortly but instead they have been sent bulky sets of supplementary questions. This likely means a final verdict won't be reached until after the countries election which will take place around February 2016.
The probe began back in 2014 and a verdict was originally expected earlier this year. An Irish finance ministry spokesperson confirmed that they would be supplying additional information to the EU. “We do not expect any decision until after the new year,” said the spokesman.
If Apple's tax arrangement with Ireland is found to be illegal the company could be on the hook for ten years of back taxes amounting to billions of euros. Apple CEO Tim Cook says Apple will stay in the country even if the EU rule against Ireland's tax agreement with the company, noting there is no "special deal" in place and that Apple is paying 12.5% on all revenue generated there.
Please follow iClarified on Twitter, Facebook, or RSS for updates.
Read More