An EU ruling that Apple must pay a huge tax bill to Ireland was clearly based on facts and existing rules and was not a decision aimed against the United States, European Commission President Jean-Claude Juncker said on Sunday.
Last week, European Union antitrust regulators ordered Apple to pay up to 13 billion euros ($14.5 billion) in taxes to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid.
Apple’s Chief Executive Tim Cook last week described the ruling as “total political crap”, but France and Germany have come out to back Brussels on the decision.
Juncker said EU Commission investigations on taxation had mainly targeted European companies.
The decision comes amidst a coordinated global initiative to crack down on tax evasion by multinational companies, spearheaded by the Paris-based Organization for Economic Cooperation and Development (OECD).
The ruling against Apple has pushed the issue into the limelight and raised the risk of significant push-back from the United States, analysts say, where some lawmakers are saying the result represents a European encroachment on the U.S. potential tax base.
In separate comments to Reuters on the sidelines of the G20 on Saturday, Pascal Saint-Amans, director of the OECD Center for Tax Policy and Administration, called Apple’s tax planning “outrageous” but, like Juncker, said the decision was based on enforcing current regulations.
Full Content: NY Daily News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK’s CMA Investigates Education Software Company for Market Abuse
May 14, 2024 by
CPI
Schumer Urges FTC Caution on Chevron’s $53B Hess Deal Over Gas Price Fears
May 14, 2024 by
CPI
Amazon Urges US Judge to Block FTC Probe into Data Preservation
May 14, 2024 by
CPI
Colorado Makes History: First State to Enact Comprehensive AI Legislation
May 14, 2024 by
CPI
Class Action Settlement Reached in Cheerleading Monopoly
May 14, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI