Apple faces a £11bn tax bill which is likely to be appealed. Is it an attack by the EU on a US corporation?
Given the nature of the Commission’s ruling, it is difficult to see Ireland having any option other than to defend its position. To do otherwise would result in Ireland bearing the brunt of negative coverage for a period of time, significantly impacting on our reputation. Post-Brexit we are at a critical juncture in terms of attracting FDI; we will undoubtedly want to defend our reputation. Any tax paid by Apple would likely ultimately reduce US tax receipts as the tax paid in Ireland could be offset against the US tax bill upon any ultimate repatriation to the US. Even in the absence of repatriation, it represents an additional cost for a US headquartered company. The sheer scale of the tax assessed today is only going to pour further fuel on this fire.