Business Irish

Friday 19 September 2014

EU continues to investigate global companies' Irish tax bills

Published 08/03/2014 | 02:30

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Minister for Finance Michael Noonan's stocks have gone up this year

EUROPEAN investigators have still not finished probing the Irish tax bills of multinational corporations.

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Finance Minister Michael Noonan has previously said the foreign companies involved in the probe have not been told that information concerning them has been handed over by Revenue to European officials.

The European Competition Commission (ECC) launched an informal review last year to see how taxes are being levied on companies in Ireland.

The Netherlands and Luxembourg are also under scrutiny, amid international controversy about tax arrangements in these countries.

ALLEGATIONS

It comes as Ireland's tax regime has again come under the spotlight amid fresh allegations involving tech giant Apple.

Mr Noonan said specific details were sought regarding the views given by the Revenue Commissioners to individual companies.

"I am not in a position to give details . . . other than to say that it includes general information on Revenue's administrative procedures and practice in providing advance opinions, as well as specific details in relation to advance opinions provided to individual companies," Mr Noonan told the Dail.

"Individual companies have not been notified, but this position will be kept under review and, when and where necessary, companies may be notified as appropriate."

Revenue has said all companies are treated equally and that no special deals or rates are being done.

A number of international corporations were specifically named.

The probe follows controversy in the United States, Britain, Germany and France about taxes charged on US companies with Irish operations.

It comes as the relationship between Ireland's tax regime and multinationals has once again been put under the spotlight after an investigation by the 'Australian Financial Review' newspaper which said computer giant Apple had shifted almost $9bn (€6.5bn) in untaxed profits in 10 years from Australia to a "tax haven structure" in Ireland.

Irish Independent

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