Transfer pricing: Apple, Starbucks and Fiat under EC scrutiny

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Summary: The European Commission announced on 11 June 2014 that it has opened in-depth investigations into whether transfer pricing rulings issued by the Irish, Dutch and Luxembourg tax authorities to Apple, Starbucks and Fiat comply with the EU rules on State aid.

The European Commission announced on 11 June 2014 that it has opened in-depth investigations into whether transfer pricing rulings issued by the Irish, Dutch and Luxembourg tax authorities to Apple, Starbucks and Fiat comply with the EU rules on State aid.

While the Commission has gone to some lengths to say that rulings are not problematic as such, multinationals will be very concerned that rulings, which previously appeared to provide watertight protection, may now be subject to challenge with potentially retrospective effect.

Multinationals, funds and other taxpayers that have benefited from a tax ruling that seems too good to be true may wish to consider reviewing their tax position to see whether any preventative steps can or should be taken.

For more, please visit the website of Accountancy Live.

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