Era of easy European tax deals is drawing to a close

The days when big US technology companies could easily slice tax bills in Europe are coming to an end.

For decades, businesses like Apple that generate significant revenue abroad flocked to Ireland, the Netherlands, and Luxembourg, where they counted on amenable fiscal regimes to reduce their tax, even if they had minimal operations on the ground.

European competition commissioner Margrethe Vestager sent the strongest signal yet that she will not abide these strategies when she demanded Apple pay an estimated €13bn in back taxes.