Wednesday, June 11, 2014

Apple: EU plans to investigate $AAPL and Starbucks $SBUX tax affairs, according to reports

EU opens tax investigation into Apple, Starbucks, Fiat
Jun 11 at 06:13
      The European Commission said it has opened three investigations to examine
whether decisions by tax authorities in Ireland, The Netherlands and Luxembourg
with regard to the corporate income tax to be paid by Apple (AAPL), Starbucks
(SBUX) and Fiat (FIATY), respectively, comply with the EU rules on state aid.
"The opening of an in-depth investigation gives interested third parties, as
well as the three Member States concerned, an opportunity to submit comments. It
does not prejudge the outcome of the investigation," the agency said. Commission
Vice President in charge of competition policy Joaquin Almunia said: "In the
current context of tight public budgets, it is particularly important that large
multinationals pay their fair share of taxes. Under the EU's state aid rules,
national authorities cannot take measures allowing certain companies to pay less
tax than they should if the tax rules of the Member State were applied in a fair
and non-discriminatory way."

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