The European Union's competition chief has warned reporters "Don't hold your breath" for a quick ruling concerning Apple's Irish tax affairs. Speaking in Brussels, Margarethe Vestager was "warning" anyone expecting a result in the investigation anytime soon that they may have to wait for longer, as the European Commission continues its thorough examination into how major tech companies move funds around to minimize how much tax they pay.
Currently, the EU is investigating Apple and Amazon's tax payments, putting them through a similar level of scrutiny to "state aid" arrangements between the Netherlands and Luxembourg with Starbucks and Fiat Chrysler Automobiles NV Unit, with the countries ordered to recover up to 30 million euros ($32.9 million) in back taxes,
reports Bloomberg. By comparison, one recent report estimated Apple's potential tax repayment at
around $8 billion, if found to be in the wrong.
Vestager has not commented on how much Apple could be due to pay, but insists the ruling will be coming out, regardless of the result of an ongoing appeal by the Netherlands and Luxembourg. "No, we wait for the job being done thoroughly and with the quality that we want it to be done with," Vestager told reporters. "That is what decides the timeline."
The EU tax probes have drawn scrutiny from US Treasury Secretary Jacob Lew for seemingly placing a focus on US companies for the investigations, for example Apple, Amazon, and McDonalds. In response, Vestager wrote to Lew claiming she was doing her job, not targeting US companies, and that removing and rectifying these tax advantages "simply restores equal treatment" between companies and countries.
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