EC Investigation Against Ireland May Mean that Apple has to Pay ‘Substantial’ Back Taxes
In 2014, the European Commission regulators began an investigation against Ireland and have taken a look into the manner how the country decided taxes payable by Apple Sales International and Apple Operations Europe.
The company warned its investors about a substantial payment of taxes in case, the EU investigation rules against Ireland. On Tuesday, Apple said in a report filed with the SEC that it could be asked to pay back taxes for last ten years. However, Apple said "As of March 28, 2015, the Company is unable to estimate the impact."
The scrutiny would also attends to rulings given by the Irish tax authorities on the way they calculate the taxable profit owed to the Irish branches of Apple Sales International and of Apple Operations Europe, to see if the rulings implicated state aid which in turn benefited the company in any way.
The member states of the European Union are barred from giving any financial assistance to companies in any manner that has an impact on the competition, which also includes helping through the tax rulings.
When the EC announced the probe in June last year, it said that the tax rulings can possibly involve some state aid within the means of EU rules only in case they are given to grant selective advantages to a definite company or a group of companies.
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