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Brussels probes multinationals’ tax deals
Brussels is probing Ireland, Luxembourg and the Netherlands over their tax deals with multinationals paving the way potentially for a formal investigation into illegal sweeteners...Europe’s top competition authority has asked the governments to explain their system of tax rulings and give details of assurances given to several specific companies – including Apple and Starbucks...The move threatens to open a new front in the global clampdown on tax evasion through enforcing the EU’s state aid rules – a unique regime that bans serious distortions of competition through tax breaks to favoured private groups...Should the Commission find cause for concern, it will open a formal investigation and start a process that could force the states to recoup all the lost revenues from any unlawful sweetheart deals.