DUBLIN: The EU’s competition commissioner Margrethe Vestager defended a landmark decision that US tech giant Apple should pay billions in back-taxes to Ireland. In August, the European Commission, the EU executive arm, ordered the iPhone maker to reimburse a record €13bil (RM62.13bil) in unpaid taxes in Ireland. The EU had accused Ireland of giving Apple a secret tax deal that allowed it to enjoy near zero tax on its huge sales worldwide for more than a decade. Addressing Irish lawmakers in Dublin on Jan 31, Vestager denied that Brussels was conducting a “witch-hunt” against multinationals such as Apple. It did not mean that the EU Commission was assuming the authority over a country’s tax rules, the commissioner argued.

Source: The Star February 01, 2017 05:34 UTC