Apple Accused by the EU of Taking Illegal Tax Aid

Apple Accused by the EU of Taking Illegal Tax Aid
Customers queue to enter the Apple Store where a giant logo is displayed in the southern German city of Munich on Sept. 21, 2012 as the iPhone 5 goes on sale. (Christof Stache/AFP/Getty Images)
9/29/2014
Updated:
9/29/2014

Apple is in hot water with the European Commission as it’s being accused of taking illegal tax aid from Ireland.

According to a Financial Times report, cited by The Guardian, Apple is soon to face accusations from the EU for the way they pay, or rather don’t pay, their taxes. According to the report, Apple has been paying taxes at a rate equivalent to less than 2% via a special deal with the Irish government.

Many technology companies choose Ireland as their base of operations for business in the EU, mainly because of its competitive corporate tax rate of 12.5%. But according to new findings by the European Commission, backed up by a US Senate investigation, Apple is paying a lot less than that, thanks to a not-so-legal deal struck with the Irish government.

Website: www.neowin.net