Apple CEO Tim Cook may have a busy travel schedule over the next several weeks. He’s apparently attending a “tech summit” at Trump Tower this week. And an Oireachtas committee has expressed confidence that Cook will accept an invitation to respond to the European Commission tax ruling which has cost his company €13 billion, according to the Irish Times.
John McGuinness, chairman of the Oireachtas all-party Finance Committee has written to the CEO in California inviting him to attend a hearing next month, along with other senior executives. The committee will hold a meeting in late January examining the decision of the European Commission and its implications for Ireland.
The Europe’s anti-trust and consumer investigation agency has claimed that Ireland, Luxembourg and the Netherlands have attracted investment and jobs by helping big companies avoid tax in other countries, including EU members. The commission suspects Ireland was too lenient in rulings it gave to Apple and which helped the company shield tens of billions of dollars in profit from taxation. At 12.5%, Ireland’s corporate tax rate beats the U.S. rate of 35%. However, participating companies don’t pay that 12.5% under the double Irish structure.
Ireland's cabinet has agreed to join Apple in appealing against a €13 billion (about $14.5 billion) back tax demand that the European Commission has levied against the Cupertino, California-based company.