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Apple Says EU Irish Tax Probe Could Have ‘Material’ Financial Impact

Apple says the European Commission's investigation into Ireland's tax treatment of multinationals could have a "material" impact if it was determined that Dublin's tax policies represented unfair state aid. Apple said that if the EU's investigations concluded against Ireland, the company could be required to pay past taxes for up to 10 years "reflective of the disallowed state aid."

The EU began a formal investigation against Ireland in June last year for alleged state aid to Apple. Apple said that as of March 28, it was unable to estimate the impact of having to pay these taxes. "The company believes the European Commission’s assertions are without merit," Apple said in a regulatory filing with the U.S. Securities and Exchange Commission on Tuesday.

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— Reuters