back paymentsAPPLE’S BOSS TIM Cook has met with a top EU official in a private meeting ahead a decision being made on the company’s tax deals in Ireland.
The company’s chief executive of technology met with the European Union’s competition comissioner Margrethe Vestager for what was a private meeting.
The company, which has more than 4,000 employees in Ireland, is being investigated by the European Commission for the tax it has paid here, with a focus on whether or not preferential terms were given by the Irish state in return for job creation.
The meeting came as Taoiseach Enda Kenny yesterday appeared before a panel at the World Economic Forum in Davos, in which he discussed Ireland’s tax arrangements and slammed tax haven accusations as “completely without foundation”.
Depending on the outcome of the probes, which have been ongoing since mid-2014, Apple could be ordered to pay back substantial back taxes to Ireland.
In recent days Bloomberg has reported that Apple’s back taxes in Europe could top $8 billion (€7.4 billion).
In response to the action being taken in Europe against Apple, the US senate committee on finance has hit back by recommending that tax penalties be taken against European companies in circumstances where the industry giant is made to make back payments to Ireland.
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