No Irish luck for Apple as EU commission deems tax deal illegal

European Union regulators have announced in a preliminary ruling that the tax deals brokered between Apple and the Irish government may be constituted as illegal state aid, which would result in hefty fines in back taxes for the Cupertino giant. The deals in question were agreed upon in 1991 and 2007, and the EU Commission believes that these deals allow Apple to pay a much lower tax rate than normal.

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