Following the news that the European Commission is launching an investigation into Apple’s tax practices in Ireland, reports say the probe will also include the tax practices of other major companies, including Starbucks and Fiat, in more member states other than Ireland.
According to reports, Apple, Starbucks and Fiat are suspected of making unfair tax agreements in Ireland, the Netherlands and Luxembourg to lessen their tax payments.
European Commissioner Joaquin Almunia said that while the tax practices may be technically legal, they could pose competition concerns.
While the companies are now under investigation by the Commission, reports say the nations involved are also getting slack. Ireland has been criticized for its low tax rates, while Luxembourg and the Netherlands are being eyed for hosting “shell” companies for firms to bypass higher taxes elsewhere.
All three nations are also being accused of unfairly keeping information regarding the matter secret
Full content: CBC News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI