EU decision on Apple's tax arrangements a welcome step forwards on tax justice
The EU Commissioner for Competition, Margrethe Vestager, today presented the results of the proceedings against Ireland for infringements of EU competition law. The ruling has major implications for Apple, who operate a significant portion of their global business through subsidiaries in Ireland, resulting in an effective tax rate of less than 1% on their foreign profits. The Commissioner has ruled that these special conditions are in breach of state aid. As a result of the ruling, the firm will now be required to pay up to €13bn of unpaid tax plus interest.