Apple vowed Tuesday to appeal an EU ruling ordering it to pay a record 13 billion euros in back taxes in Ireland, saying the decision would harm jobs and investment in Europe.

“We will appeal and we are confident the decision will be overturned,” the US company said in a statement after the European Commission decision that Dublin’s tax breaks for Apple were illegal.

“It will have a profound and harmful effect on investment and job creation in Europe.”

Ireland has “no choice” but to appeal against a European Union ruling demanding that US tech giant Apple repay them a record EUR 13 billion ($14.3 billion or roughly Rs. 95,910 crores) in back taxes, the government said alongside Tuesday.

“The decision leaves me with no choice but to seek cabinet approval to appeal the decision before the European Courts,” Ireland Minister for Finance Michael Noonan said in a government statement.
“This (appeal) is necessary to defend the integrity of our tax system; to provide tax certainty to business; and to challenge the encroachment of EU state aid rules.

“I disagree profoundly with the Commission’s decision,” he added.

The EU said Apple had benefited from a series of Irish sweetheart tax deals that were illegal.

“The European Commission has concluded that Ireland granted undue tax benefits of up to EUR 13 billion to Apple. This is illegal under EU state aid rules because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid,” a Commission statement said.

 

Source : (gadgets.ndtv.com)

Advertisements