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Baku, December 19 AZERTAC
Ireland will appeal the European Union's landmark order to collect a record 13 billion euros ($14 billion) in taxes from Apple, the Irish Department of Finance announced Monday.
According to AP, the Irish countermove comes nearly four months after EU competition authorities hit Apple with the back-tax bill based on its longtime reporting of European-wide profits through Ireland, which charges the American company only for sales on its own territory at Europe-low rates that in turn have been greatly reduced by the controversial use of shell companies at home and abroad.
The ruling unveiled Aug. 30 by EU Competition Commissioner Margrethe Vestager called on Apple to pay Ireland the 13 billion euros for gross underpayment of tax on profits across the European bloc from 2003 to 2014. Her report concluded that Cupertino, California-based Apple used two shell companies incorporated in Ireland to permit Apple to report its Europe-wide profits at effective rates well under 1 percent.
The Department of Finance has pledged to close its shell company-focused rules, but that move is expected to create no obstacle to global companies, which can shift the same accounting strategies to other countries beyond the EU's wrath.
AZERTAG.AZ :Ireland to appeal EU's record $14 billion tax order on Apple
