Sunday 11 December 2016

US treasury secretary urges EU not to collect back taxes from Apple in Ireland - report

Published 12/07/2016 | 09:10

EU Competition Commissioner Margrethe Vestager Picture: Victor J. Blue
EU Competition Commissioner Margrethe Vestager Picture: Victor J. Blue

US treasury secretary Jacob Lew has asked for EU antitrust chief Margrethe Vestager not to collect back taxes from Apple in Ireland, it has been reported.

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According to Bloomberg, Lew is to meet with Vestager ahead of her final decision on the EU probe into Apple's tax dealings in Ireland.

The report cites two unnamed sources that say Vestager's team have drawn up two possibilities on how much tax Tim Cook's firm owes here.

The showdown between the two comes after Lew complained to the European Commission that US firms were being unfairly targeted by state-aid investigations.

However, Vestager has denied the accusation that she is specifically targeting American companies.

The probe into Apple's dealings in Ireland opened two years ago with initial findings pointing to a potential deal between the tech giant and the Irish Government.

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