”The European Commission has concluded that tax rulings issued by the Irish tax authorities in favour of two Apple subsidiaries, which operated in Ireland until 2015, constituted illegal state aid under EU law. The Commission has calculated that these rulings allowed Apple to allocate profits in a way that reduced the taxes payable in Ireland by up to €13bn over ten years. Ireland must now recover this amount, plus interest, from Apple. Both the Irish government and Apple have said they will appeal the decision to the European Court.”
To read the full article published by Tax Journal, please click here.