Apple may have to repay billions of euros of legacy taxes as the European Commission opens an inquiry into the Irish tax deal.
According to the Guardian, the European commission formally opened an investigation into the deal on Tuesday as the outgoing competition commissioner, Joaquin Almunia, warned that the recipient of any illegal state aid – in this case Apple – would be liable to repay it.
Ireland is accused of granting “illegal state aid” to Apple between 1991 and 2007.
The probe could take as long as 18 months before reaching a conclusion.
The move comes as European governments become increasingly critical of tax arrangements used by US technology companies to shift revenues to low-tax countries, the report said.
—-ANI