- Other than Apple fears enough to be revealed – NRK

The European Union has concluded that Apple has received illegal state aid from Ireland, and must repay up to 120 billion to Ireland.

The reason is that Ireland on several occasions should have given electronics giant significant tax benefits. That’s according to EU rules illegal.

NHH professor Guttorm Schjelderup is an expert in tax planning in multinational companies.

He believes that other companies with similar agreements fear being revealed, and believes also Ireland should have been fined by the EU.

– Apple survives enough fine, but this is not trivial, says Schjelderup NRK.

– Other businesses or taxpayers must foot the bill

Apple has a market capitalization of just under 5,000 billion. In pre-trading on the New York Stock Exchange falls value of the company in excess of 1 percent just after 14:00 Norwegian time.

Photo: MICHAELA Rehla / Reuters

He believes that other companies that have the similar agreements now fear that they will be revealed.

– When someone gets unfair competitive advantage, undermined tax systems. The bill needs some pay, whether there are other businesses or taxpayers, he said.

In a note from 2014 shows Schjelderup including how Google has set up its corporate structure with a holding company in Ireland with royalties via a company in the Netherlands which is then sent to Bermuda.

Bloomberg has previously written that Google from 2007-2009 paid in excess of 2 percent tax on their revenues outside the US due to clever corporate structures.

– Apple verdict raises new questions about who exactly are tax havens, when countries have hidden agreements and lead secret negotiations with international companies. No one knows, for example, how much companies must pay to the Netherlands to use them as throughput nation, says NHH professor.

Can have implications for more

The 130-page report that EU Commission has been working on for three years, will probably have implications for several other large companies that have negotiated artificial tax arrangements in the EU.

as recently as last year sent the same Commission maintains that the Netherlands should reclaim tax money equivalent to 30 million euros from coffee giant Starbucks, and Luxembourg a corresponding amount of car giant Fiat.

According to the BBC, the European Commission investigation has been met with criticism in the United States. The US Treasury will have criticized the EU to appoint to a supranational fiscal authority which interfered in individual country tax rules.

Historically high bot

Tax bill with interest equivalent to about 120 billion Norwegian kroner and is historically high.

Apple has in advance announced that it will appeal a penalty tax. The same also the Irish government made, although this will add Treasury multi billion euros.

An appeal hearing is expected to take up to two years.