EU report into iphone maker could lead to record fines.
The European Commission (EC) is reportedly set to charge Apple of gaining from illegal tax deals with the Ireland Government for over 20 years.
The commission’s probe into Apple’s tax issues centered around whether the iPhone maker benefited from unlawful state support after making secret deals with Irish officials. The details are expected to be made public later this week.
The charges may hit the iPhone maker with billions of Euros in fines.
However, Apple still considers that its deals with Ireland had not breached any policies.
Apple chief financial officer Luca Maestri told the Financial Times: "There’s never been any special deal, there’s never been anything that would be construed as state aid."
The latest attack on the iPhone maker comes after US Senate investigations in 2013 alleged that Apple used a complex web of offshore entities including three foreign subsidiaries to dodge taxes in the country.
Maestri added: "We were simply trying to understand what was the right amount of taxes that we would have to pay in Ireland."
the Republic of Ireland is a favourite European base for several major firms including Amazon, Facebook, PayPal and Twitter, due to its competitive corporate tax rate of 12.5%, which is condemned by other EU member states as unfair.