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US: Treasury complains Apple tax probe is a power grab by Brussels

By  |  August 24, 2016

The US has unleashed a biting attack on the European Commission in a last ditch bid to dissuade Brussels from hitting Apple with a demand for billions of euros in underpaid taxes.

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    In a sharp escalation of the transatlantic feud, the US Treasury department took a rare step on Wednesday by warning that Brussels is becoming a “supranational tax authority” that threatens international agreements on tax reform, the Financial Times has learnt.

    The criticism comes as the European Commission finalises a probe into an alleged sweetheart tax deal that Ireland gave to Apple, the biggest single case in a crackdown on corporate tax avoidance across the EU. After prolonged delays, a definitive ruling is expected next month.

    The Obama administration is stepping up its assault on the probe having failed to deter Brussels earlier this year by arguing publicly that it was setting unfair and “disturbing” precedents and singling out US companies.

    Full Content: Financial Times

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