By
TIOL News Service
NEW
DELHI, AUG 31, 2016: THE EU has finally done it. The tug of war
between the USA and the EU has come out in the open in a big way. In its
latest move, the EU has slapped Apple with a Himalayan tax demand of Euro
13 billion. And the demand with interest is against the tax sops Apple
has received in Ireland and the same amounts to tax subsidy.
Reacting
to the ruling the Apple has done the predictable. It has warned Ireland of
job loss. So, Ireland has decided to join Apple in filing an appeal against
this ruling.
EU
Competition Commissioner has reportedly pointed out that Apple has paid barely
ONE PER CENT tax since 1991 in Ireland. It paid only about 0.005% tax rate
in 2014 which is a mockery of the corporate tax rate in Europe. The tax benefits
availed by Apple is largely being seen as state aid.
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