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- Company news: The European Commission requires Apple (AAPL) to pay tax in amount of about 13 billion euros
Company news: The European Commission requires Apple (AAPL) to pay tax in amount of about 13 billion euros
According to the European Commission's material published on the official website of the authority, a thorough investigation, which began in June 2014, found that Ireland has granted Apple's unjustified tax breaks of 13 billion euro. This is contrary to the rules of public support in the EU, as it allowed the American corporation to pay much less in taxes than other companies. Now, Apple is expected to return Ireland unpaid taxes plus interest.
According to the Anti-Monopoly Policy EU Commissioner Margaret Vestager, Ireland showed "selective attitude" to Apple and has enabled the company during the period from 2003 to 2014 to pay from 0.005% to 1% income tax from operations in Europe.
AAPL shares fell in premarket trading to $ 105.74 (-1.01%).
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