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European Commission takes a bite out of Apple

European Commission takes a bite out of Apple

By Staff Writer - August 30, 2016

appleIreland should act to recover up to €13 billion from Apple in back taxes, the European Commission has ruled. After a three-year long investigation, it has concluded that the US firm’s tax benefits are illegal.

The commission concluded that Apple received “illegal state aid” from Ireland — essentially a sweetheart deal that allowed the computer maker to unfairly reduce its tax bill in a way not available to other companies, according to the report.

The Commission said this enabled it to pay substantially less tax than other businesses, in effect paying a corporate tax rate of 1%. Both Apple and the Irish government are likely to appeal against the Commission’s ruling.

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