European Commission investigating multi-nationals tax setups
First published in Bloomberg, 29 September 2014
The EU’s investigations focus on so-called transfer-pricing arrangements on taxing commercial transactions between company units, the EU’s antitrust arm said in June when it opened formal tax probes covering firms including Apple. Regulators are checking whether the tax deals constituted illegal state aid. Governments can be ordered by the commission to claw back unfair aid.
Looking “into the tax affairs of a number of high-profile multinationals including Starbucks Corp. (SBUX), Fiat SpA (F) and Apple for violation of state aid is a knee-jerk reaction to appear on the front-foot,” said Frederic Donnedieu, Chairman of Taxand.
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