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EU Antitrust Head and US Treasury Secretary to Meet in Regards to Preventing the Back Taxes Collection which is to Be Paid by Apple

Jacob Lew the US Treasury Secretary is said to be meeting European Union’s head Margrethe Vestager just before the ruling that has been anticipated by the Irish government in regards to the fact that Apple would have to pay a certain amount as back Tax.

EU Antitrust Head and US Treasury Secretary to Meet in Regards to Preventing the Back Taxes Collection which is to Be Paid by Apple

As per Bloomberg, Vestager was contacted recently by the law in regards to convince her not to go ahead and rule about the fact that the back tax should be collected. There were two drafts that had been sent out from her office in regards to the amount that was owed by Apple by presenting two different scenarios along with the decision.

The investigation that is being done by the EU had started by 2014 pertaining to the tax arrangements with Apple. The company had been accused of state aid that is said to be unfair as an exchange while jobs were provided in the country. A preliminary ruling had already been found against Ireland and Apple; however it has been quite some time now about when the final ruling would take place.

There were claims made by Lew about the fact that American firms were being targeted unfairly in the investigation that is being done by the EU in regards to the state aid. There were also claims that even a few European businesses have been accused about the same. Companies like McDonald’s, Star bucks and Amazon may have already been asked to pay or may just come under scrutiny.

So far in regards to any wrongdoing, the Irish government and Apple have denied and there was promises made by the Irish Government about fighting any payments that had been ordered. IT was stated by Michael Noonan, the Finance Minister of the country stated that by this month, a decision may just be issued by the E.U.

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