Apple’s Day of Reckoning Comes With Billion-Euro Tax Risk
- Appeals expected from Ireland and Apple in state-aid case
- Finding will be closely watched for effects on other companies
Apple Said to Face Tax Bill Running Into the Billions
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The European Union is expected to conclude Tuesday that Ireland provided Apple Inc. with illegal aid through a favorable tax arrangement, a decision that may cost the iPhone maker billions of euros and stir concern among hundreds of other companies.
The European Commission’s anticipated announcement that Ireland’s deal for Apple violated the union’s state-aid rules, which was described by people familiar with the situation, will exacerbate tensions between the EU and the U.S. Treasury Department. Treasury officials have complained that European regulators are unfairly targeting U.S. firms and threatening global tax reforms.