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The European Commission can impose a fine on Apple of $8 billion for tax evasion

The European Commission can impose a fine on Apple of $8 billion for tax optimization in Europe, reports Bloomberg citing a survey of analysts.

Currently, the regulator is conducting an investigation in terms of tax policy Apple. The Corporation is suspected of using subsidiaries in Ireland to avoid paying taxes on income that the manufacturer generates iPhone and iPad outside the United States. Decision on the results of the investigation can be made in March 2016.

Apple generates about 55% of revenues outside the United States. According to the preliminary results of the investigation of the European Commission, the American giant computer electronics has signed an illegal agreement with the tax authorities of Ireland, which received financial assistance from the authorities. In this case, Apple pays in Ireland, a tax rate of less than 2%.

The Commission sees all of Apple’s agreement with the tax authorities of Ireland since 1991. According to sources, Cupertino can be accused of concealing about $137,7 billion in offshore.

Apple for its part has denied the allegations. “There were no agreements and assistance from the state,” said Apple’s CFO Luca Maestri in response to a request by the Financial Times. He described Apple’s actions in Ireland as “very responsible, transparent and restrained”. “We know that they had not violated the law. We hope that further investigation will show that we have not used any special treatment by the government of Ireland”.

On Monday it was reported that the European Commission ordered the 35 corporations to pay 700 million euros of taxes in Belgium. Tax credits are only available for specific transnational corporations, which “is a serious violation of competition within the single market of the EU”, said the EC. The competition authority ordered that Belgium had recovered unpaid taxes.

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