The US has warned the European commission that it will consider retaliating if Brussels goes ahead with plans to demand billions of dollars in unpaid taxes from Apple and other US multinational companies.
The Obama administration warned the EU on Wednesday that its investigations into alleged tax avoidance by US firms, including Apple, Amazon and Starbucks, could “create an unfortunate international tax policy precedent”. [...]
A US Senate investigation in 2013 found that Apple paid little or no tax on profits of at least $74bn over four years by exploiting gaps in the Irish and American tax code. The investigation found no evidence of illegal activity and both Apple and Ireland deny any wrongdoing.
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