The European Commission's three-year investigation into Apple's sweetheart deal with Ireland has found it amounted to illegal state aid. In a damning report published today it emerged the tech giant paid as little as 0.005 per cent tax by funnelling its non-US profits through a 'so-called headquarters' in Ireland with no staff or premises then on to its $178billion (£120bn) offshore account (top right). The giant tax bill, which could reach £16billion ($21 billion) because of interest, will not be difficult for the company to pay because it made $53.4billion (£35billion) last year (bottom right) - the biggest profit in corporate history. But Apple will appeal and the tech giant's CEO Tim Cook, who previously called the probe 'political c**p', is threatening EU job losses. The US Treasury has also warned the EU not to pursue American companies over tax avoidance - but McDonald's, Google and Amazon could be next. Ireland has said it doesn't want Apple's money even though it is equivalent to £2,400 for each of its 4.5million residents and would cover the costs of its national health service for a year. http://www.dailymail.co.uk/news/article-3764393/Apple-faces-bill-billions-Irish-tax-affairs-EU-rules-company-effectively-received-state-aid.html
Experts believe that a British economy free from Brussels could be able to attract companies such as Apple, run by Tim Cook, pictured,a with its own tax deals. http://www.dailymail.co.uk/news/article-3765272/Brexit-Britain-home-giant-global-firms-fear-huge-EU-tax-demands-Apple-ruling.html
Apple has had a base in Ireland since 1980, long before it became the global brand it is today - and it employs around 5,500 people in the country, with its biggest operations in Cork.
The massive £11billion bill faced by the tech giant could set the scene for a titanic tax avoidance battle involving multinationals, governments and the EU commission. http://www.dailymail.co.uk/news/article-3765367/Who-s-firing-line-Google-Amazon-Starbucks-firms-facing-scrutiny-multi-billion-pound-Apple-tax-ruling.html
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