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EU: Decision for Apple Tax probe expected in July

 |  June 16, 2016

The European Union may announce its decision in its long-running probe into Apple’s tax arrangements with Ireland in July, the country’s finance minister said Thursday.

 “There’s speculation that there may be a decision… in July, but we have no confirmation of that and no further information,” Irish Finance Minister Michael Noonan said upon entering a gathering of the eurozone finance chiefs in Luxembourg.

The European Commission, the bloc’s antitrust agency, opened a formal investigation into Apple’s tax practices in June 2014, saying it had reached the “preliminary view” that tax deals struck with Apple in Ireland in 1991 and 2007 constituted state aid.

“The investigation is ongoing and we cannot prejudge its outcome or the timing of a decision,” the commission said in a statement Thursday. An Apple spokeswoman pointed to previous comments by company executives who have said the firm has done nothing wrong, pays all the taxes it owes and doesn’t benefit from state aid.

The commission has said it has specific doubts—based on an analysis of exchanges between representatives of Apple and the Irish tax authorities—about the methods used to calculate taxes payable by two of Apple’s subsidiaries in Ireland: Apple Operations Europe and Apple Sales International.

“The consideration by Vestager’s [team] is continuing…we have cooperated and given them all the data they have requested,” Mr. Noonan added.

Full Content: The Wall Street Journal

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