In 2014, the European Commission initiated an investigation to find out whether Apple concluded an illegal agreement with Ireland to benefit from a reduction in the percentage of tax applied to the profit generated in Europe, those from Cupertino avoiding paying billions of dollars based on this agreement made over a decade ago.
Many people are eagerly awaiting the conclusion of this investigation, and the Irish Minister of Finance announced that in September or October the result of the investigation will be announced, when Apple could be fined a serious amount of money and could be forced to pay retroactive tax for the profit won.
Apple had a profit of 64.1 billion dollars in Europe between 2004 and 2012, the one for which it is being investigated, and paid a tax of 2% instead of 12.5%, so if the agreement will be considered illegal, then Apple will have to pay minimum 8 billion dollars to the Irish Ministry of Finance.
The decision in this investigation was expected last year, but the European Commission did not hurry, and Apple did not press it in any way, but this year its conclusion will be announced, and those from Cupertino may have to to pay that large sum previously mentioned, but they have enough resources to do it.
"Commissioner Vestager indicated to me that there wouldn't be a decision in July but there would probably be a decision early in the autumn. My expectation is September or early October. I didn't discuss the potential decision but we did discuss the presentation of the decision. I have no indication of what way the decision will go or what the implications of the decision will be"
2 days ago I told you that the head of the US Treasury is trying to convince the European Commission not to force Apple to pay its taxes retroactively, but it is unlikely that its actions will be successful, and those from Cupertino could end up taking a serious amount of money out of their accounts in order to clarify the situation in Europe.
