EU likely to hand Apple Irish tax bill of over 1 bln euro- source

by Reuters
Monday, 29 August 2016 17:39 GMT

DUBLIN, Aug 29 (Reuters) - The European Commission will rule against Ireland's tax dealings with Apple on Tuesday, two source familiar with the decision told Reuters, one of whom said Dublin would be told to recoup over 1 billion euros in back taxes.

The Commission declined to comment on Monday.

The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland rejected the accusation and have both said they will appeal any adverse ruling.

The source said the Commission will recommend a figure in back taxes that it expects to be collected but it will be up to Irish authorities to calculate exactly what is owed. (Reporting by Padraic Halpin; editing by Ralph Boulton)

Our Standards: The Thomson Reuters Trust Principles.