EU antitrust chief: 'don't hold your breath' for results of Apple-Ireland tax audit
The European Commission is unlikely to rule on the legality of Apple's tax arrangement with the Irish government any time in the near future, the EU's lead antitrust watchdog said on Monday.
Source: European Commission
"Don't hold your breath," European Commissioner for Competition Margrethe Vestager said when asked about the status of the investigation, according to Bloomberg. "I'm just warning you."
The European Commission has been looking Apple's Irish tax arrangements for more than a year, first releasing a preliminary finding in late 2014. The Commission is investigating whether the deal, first struck by Apple in 1991 and refreshed in 2007, amounts to illegal state aid.
Apple is one of a number of companies -- mostly U.S. firms -- to have been swept up in a clampdown on such tax agreements around Europe. If found to be in violation of EU law, Apple may be forced to pay as much as $8 billion in back taxes.
The final ruling on Apple's case has already been delayed multiple times, possibly indicating the complexity of auditing a company Apple's size.
Vestager refused to give a new deadline, saying instead that the commission would "wait for the job being done thoroughly and with the quality that we want it to be done with."
"That is what decides the timeline," she added.
Source: European Commission
"Don't hold your breath," European Commissioner for Competition Margrethe Vestager said when asked about the status of the investigation, according to Bloomberg. "I'm just warning you."
The European Commission has been looking Apple's Irish tax arrangements for more than a year, first releasing a preliminary finding in late 2014. The Commission is investigating whether the deal, first struck by Apple in 1991 and refreshed in 2007, amounts to illegal state aid.
Apple is one of a number of companies -- mostly U.S. firms -- to have been swept up in a clampdown on such tax agreements around Europe. If found to be in violation of EU law, Apple may be forced to pay as much as $8 billion in back taxes.
The final ruling on Apple's case has already been delayed multiple times, possibly indicating the complexity of auditing a company Apple's size.
Vestager refused to give a new deadline, saying instead that the commission would "wait for the job being done thoroughly and with the quality that we want it to be done with."
"That is what decides the timeline," she added.
Comments
"That is what decides the timeline," she added.
Elections may also be driving the timeline. By holding off a decision, some politicians will not feel pre-election heat for being pro/anti Apple on this matter. After being elected into office, the politicians can openly express their leanings without too much fear of being voted out of office for a few years.
Considering the complexity of the whole EU tax rules, cross country etc I have seen liability to Apple from a few hundred million to 9 billion being reported.
There seems to be a number of people who are projecting, based on their perception of their own national political system and are assuming it has relevance to the way the EU and the Commission operate.
thus in this case if Apple has received illegal state valued at 9 billion then they would have to repay that or nothing if that what it is valued at.
Now, let say all the US companies pull out of EU and move to Asia...lol. EU would be fcked. I know the countries in South East Asia are more than willing to have zero tax for these companies to move to their countries for at least 10 years.
Singapore? I'm sure Tim Cook would be delighted to bring business to this hateful, bigoted, fascist, homophobic dump.
Guess why US companies are in the EU and don't want to leave?
Ireland is Apples EU tax base. Do you really think Apple could make Singapore it's EU tax base, and have all other aspects remain the same? You're not seeing any obvious issue with that?