EU Confirms Apple Tax Evasion Investigation
As rumored earlier this week and covered
Tuesday by MMi, the European Union finally announced this morning new tax evasion investigations of Apple.
Along with Fiat and Starbucks, Apple will be probed and prodded for its alleged tax shielding tactics in Europe. Although Apple and the other corporations are essentially innocent until proven guilty, serious scrutiny awaits Apple's headquarters in Cork, Ireland.
So is Apple among the multinational companies going too far to capitalize on taxation loopholes? It looks like we're about to find out.
According to US News & World Report
, EU antitrust commissioner Joaquin Almunia indicates that a "preliminary probe by his office has found the arrangements are improper, though the companies as well as the countries involved — Ireland, the Netherlands and Luxembourg — must be given a chance to respond."
"We have reason to believe at this stage that indeed in these specific cases the national authorities have (failed) to tax part of these multinationals' profits," Almunia said Wednesday. "When public budgets are tight and citizens are asked to make efforts to deal with the consequences of the (financial) crisis, it cannot be accepted that large multinationals do not pay their fair share of taxes."
Source: US News & World Report