Arab Today, arab today eu orders starbucks fiat to pay 2030 mn euros in back taxes
Last Updated : GMT 05:24:37
Arab Today, arab today
Arab Today, arab today

EU orders Starbucks, Fiat to pay 20-30 mn euros in back taxes

Arab Today, arab today

Arab Today, arab today EU orders Starbucks, Fiat to pay 20-30 mn euros in back taxes

The European Union is expected to decide against Starbucks
Brussels - AFP

The European Union ordered Starbucks (Swiss: SBUX.SW - news) and Fiat (Hanover: FIA1.HA - news) on Wednesday to each repay up to 30 million euros in back taxes in a landmark tax avoidance case pursued following the LuxLeaks scandal.

"Luxembourg is to recover 20-30 million euros ($23-34 million) from Fiat and The Netherlands to recover 20-30 million from Starbucks Manufacturing -- unpaid taxes due to illegal state aid," EU Competition Commissioner Margrethe Vestager said in a tweet announcing the decision.

The European Commission, the EU's executive arm, has launched a series of tax probes against top companies, including US technology giants Apple (LSE: 0R2V.L - news) and Amazon, and Wednesday's decision is a sign that European regulators are willing to take on the tax affairs of the world's most influential companies.

"Tax rulings that artificially reduce a company's tax burden are not in line with EU state aid rules. They are illegal," Vestager said in a briefing to journalists in Brussels.

"All companies, big or small, multinational or not, should pay their fair share of tax," the former Danish economy minister said.

The EU's four tax probes were announced last year after the LuxLeaks affair, which revealed that some of the world's biggest companies had negotiated lower rates, in some cases just one percent, in secret pacts with Luxembourg.

Luxembourg says the tax rulings, as they are known, were not illegal and the companies involved insist they fully comply with the tax laws where they operate.

"Luxembourg disagrees with the conclusions reached by the European Commission in the Fiat Finance and Trade case and reserves all its rights," Luxembourg's finance minister Pierre Gramegna said on his Twitter (Xetra: A1W6XZ - news) account.

Last year's revelations were a huge embarrassment to Jean-Claude Juncker, then newly installed as Commission head after serving nearly 19 years as Luxembourg prime minister.

The Commission bases its case however on EU competition law, arguing that such sweetheart tax deals give the companies involved an unfair advantage over their often smaller rivals.

Taking on Apple and Amazon would come at a delicate time for EU-US business ties and as Brussels and Washington negotiate a huge free trade pact amid deep suspicions in Europe that Brussels may give too much away to get an agreement.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu orders starbucks fiat to pay 2030 mn euros in back taxes Arab Today, arab today eu orders starbucks fiat to pay 2030 mn euros in back taxes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu orders starbucks fiat to pay 2030 mn euros in back taxes Arab Today, arab today eu orders starbucks fiat to pay 2030 mn euros in back taxes

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday