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No Sweetheart Deal, Ireland to tell Commission
Zone(s): Ireland ¦ Sector(s): Taxation
According to Joaquín Almunia, the Commission’s Vice President in charge of competition policy, the Commission is concerned that, in specific cases, national tax authorities may have provided rulings to multinationals to allow them to lower their taxable profits by excluding certain, otherwise taxable items from the taxable base. The Commission said it has reviewed the calculations used to set the taxable basis in the three investigations it is undertaking, and said, based on a preliminary analysis, it has concerns that these rulings could allow profits to be underestimated, which would thereby grant an advantage to the respective companies by allowing them to pay less tax.