The European Commission may deliver its verdict on Apple’s tax arrangements in Ireland as soon as next month, according to Irish Finance Minister Michael Noonan.
“The speculation now is that the commission may make a decision sometime in July,’’ he told Bloomberg. “But we don’t know that with certainty. It’s the general feel around Brussels that they’re walking toward a July decision.”
Ireland will fight any negative commission decision to the EU courts, Noonan added. The government will “vigorously defend’’ any adverse Apple tax decision, he has said previously.
The EU, 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 percent, 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.