Regulators are likely to European Union open investigations into tax agreements between EU countries and multinationals after reviewing their agreements in the previous decade, the bloc’s competition official warned on Monday.
European Commission Vice President Margrethe Vestager, who has ordered Apple to pay €13 billion in taxes to Ireland and Amazon €250 million to Luxembourg, among a dozen cases, has said such tax deals amount to illegal tax breaks. .
Despite his strong measures, Vestager claimed that aggressive tax planning “Stay with us.”
“My services have carried out an in-depth investigation into tax practices in all Member States during the period 2014-2018 and I hope that this will lead to further investigations in certain countries”he said at a conference in Copenhagen.
He did not mention the countries or the companies:
Vestager has had a mixed record defending his decisions in court and Europe’s highest court will rule on his appeals in the coming months, after a lower court struck down his tax rulings on Apple, Amazon and Starbucks.
However, the Court has upheld its order to Engie to pay 120 million euros of back taxes to Luxembourg.
Belgium, Ireland, Luxembourg and the Netherlands have changed their tax practices in response to his tax crusade.
Source: Reuters
Source: Gestion
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