The European Commission has found that Apple was illegally given tax benefits amounting to some €13bn by the Irish tax authorities, which must now be recovered.
During a three-year investigation, The Commission found that selective treatment allowed Apple to pay an effective corporate tax rate of one per cent on its European profits in 2003. In other words, for every €1m in profit made from sales across Europe it paid €10,000 in tax.
This dropped even further to a rate of 0.005 per cent in 2014; or just €50 for every €1m in profit.
Apple was able to do so thanks to a Read full story ›
Source: The Drum
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