EU's Vestager Seeking Details on Apple's Recent Tax Setup

Advertisement
By Reuters | Updated: 8 November 2017 15:51 IST

European Union regulators have asked iPhone maker Apple for details of its recent tax structure following last year's order to pay back taxes of up to EUR 13 billion ($15 billion) to Ireland, Europe's antitrust chief said on Tuesday.

European Competition Commissioner Margrethe Vestager, who issued the record back-tax bill against Apple in August 2016, said she wanted to make sure the company now complies with the bloc's rules which ban unfair state aid.

"I have been asking for an update on the arrangement made by Apple, the recent way they have been organised, in order to get the feeling whether or not this is in accordance with our European rules but that remains to be seen," Vestager told a news briefing at an international tech summit in Lisbon.

Advertisement

"We are looking into this of course without any kind of prejudice, just to get the information," she said.

Advertisement

Vestager said her request preceded reports based on the "Paradise Papers" which showed that Apple shifted key parts of its business to Jersey as an offshore tax haven in a move to maintain a low tax rate. Apple has said no operations were moved from Ireland.

"We have no contact after the Paradise Papers. We are in the process. There is no particular need," she said.

Advertisement

The company had no further comment on Vestager's remarks on Tuesday.

According to the August 2016 decision issued by the EU, Apple met with the European Commission in 2015 to explain its new corporate structure as well as submitting a summary with the key elements as a follow-up.

Advertisement

Vestager also said it was too early to say whether the latest leaks on tax arrangements by companies would lead to any general investigations.

"That remains to be seen if we will open more cases after the Paradise Papers."

The Commission last month sued Ireland for its tardiness in collecting the money from Apple.

"We have no indication when it comes to the time perspective of Apple's recovery. We do have from the Irish government the progress made," she said.

© Thomson Reuters 2017



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Advertisement

Related Stories

Popular Mobile Brands
  1. Vivo Launches Y500 in China With a Massive 8,200mAh Battery
  2. Realme 15T With 50-Megapixel Selfie Camera Debuts in India: See Price
  3. Realme 15T 5G India Launch Today: All You Need to Know
  1. BCCI Says Crypto, Real Money Gaming Platforms Can’t Bid for Team India’s Title Sponsorship
  2. Scientists Discover Hidden Mantle Layer Beneath the Himalayas Challenging Century-Old Theory
  3. Astronomers Propose Rectangular Telescope to Hunt Earth-Like Planets
  4. Microsoft Testing Native Clipboard Sync Feature to Share Text Between Windows PCs, Android Devices
  5. Su From So OTT Release: When and Where to Watch This Kannada-Language Horror-Comedy Online
  6. Sennheiser Momentum 4 Wireless 80th Anniversary Edition Launched in India With Up to 60 Hour Battery Life
  7. Call of Duty Film Adaption Said to Be a 'Priority' at Paramount, Negotiations on to Acquire Rights
  8. Cannibal Solar Storm May Trigger Auroras as Powerful Geomagnetic Storm to Hit Earth Soon
  9. Apple's iPhone 8 Plus Listed as Vintage Product Ahead of iPhone 17 Launch, 11-Inch MacBook Air Now Obsolete
  10. Hidden Reason Behind Portugal’s Deadly Earthquakes Finally Explained
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.