Tuesday, August 30, 2016

Tim Cook has criticized the European Commission’s decision to charge additional taxes – RBC

Apple CEO Tim Cook has criticized the European Commission about the decision that Ireland should require the company to surcharge tax of € 13 billion, as it allegedly provided illegal tax breaks. His position, he stated in a letter to Apple’s European employees, the text of which leads CNBC.

According to Cook, the decision of the European Commission “is unprecedented and has serious, far-reaching consequences.” As the head of Apple, the European regulator “in fact proposed to replace the Irish tax legislation is the Commission’s view on how the legislation should be».

Cook expressed his confidence that the Commission’s decision will be reviewed, noting that Ireland has already announced of the intention to appeal against. Apple will do the same, he added the head of the company.

The businessman stressed that the most negative consequences of a decision of the European Commission will have to invest in Europe and create new jobs. Apple CEO believes that any company in Ireland and across Europe as a result faced the threat of being taxed according to the laws that have never existed.

The European Commission’s decision, published on 30 August claimed that Ireland illegally granted Apple tax breaks, which allowed the company to pay income tax at a rate of 1% or less. Cook, for his part, said that this statement is devoid of any factual or legal basis.

Apple CEO said that the company plans to continue to invest in Ireland. “We firmly believe that the facts and fundamental legal principles on which the EU was founded, eventually prevail,” – concluded Cooke.

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