Brussels may delay Apple verdict on tax in light of turmoil - Noonan
Published 01/07/2016 | 02:30
The Government has said the European Commission judgement on alleged illegal State aid to Apple may be postponed due to uncertainty arising from the Brexit referendum.
Finance Minister Michael Noonan has said there had been speculation that a determination could come next month.
But Mr Noonan told the Committee on Finance, Public Expenditure and Reform yesterday that the case may now be delayed.
"You can see that Brexit has had an impact on economic confidence in Europe already.
"An adverse finding with large arrears against a major American company operating in Europe - it may not be a road that will be travelled in July," he said.
Brussels has accused Ireland of striking a tax arrangement with Apple that was based on keeping jobs here but which gave the company an advantage that amounted to state aid and went against international guidelines.
The Government has spent €670,000 fighting the case to date, however Mr Noonan acknowledged that the State may be entitled to arrears should the findings go against the Government and Apple.
"There will be an adjudication in due course, and when we find out what the adjudication is - if it's adverse, it will be accompanied by a suggested amount of arrears to be paid by the company," Mr Noonan added.