June 26, 2022
Apple CEO Tim Cook Meets With EU Antitrust Chief Over Tax Probe

Apple CEO Tim Cook Meets With EU Antitrust Chief Over Tax Probe

Posted January 22, 2016 at 12:43am by iClarified · 6480 views
Apple CEO Tim Cook met with the European Commission’s antitrust chief Margrethe Vestager in Brussels today to discuss an investigation into the company's tax arrangement with Ireland, reports Bloomberg. Apple could owe more than $8 billion in back taxes if the EU finds that it was given illegal preferential tax terms.

“If the commission follows its own precedent” from recent cases “and effectively requires Ireland to impose the statutory tax rate, Apple will be looking at around 10 percentage points of tax on substantially more than a hundred billion dollars of profit from a decade of sweetheart deals,” said Alex Cobham, director of research at the Tax Justice Network.

Following the meeting, Cook tweeted, "Apple has created over 1.4m jobs across Europe
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