World Business News

A round up of the latest news for those doing business internationally

Europe to investigate Apple’s tax affairs

Zone(s): Europe ¦ Sector(s): Tax
[11 June 2014, AccountancyAGE] By Calum Fuller: Apple’s tax affairs are to be subject of an extensive formal investigation by the European Commission, competition commissioner Joaquín Almúnia will confirm today. Last year, the commission began an information gathering exercise into the tax arrangements for multinational companies across several countries, including Ireland. It follows claims made last year by a US senate committee headed by Carl Levin, which argued that while the business’s corporate structure includes three Ireland-based subsidiaries, they do not appear to by tax-resident anywhere in the world. Read more at: www.accountancyage.com/financial-director/news/2349399/europe-to-investigate-apple-s-tax-affairs