Apple may face billions in fines over EC probe

The Department of Finance has played down reports that the European Commission probe into Apple’s tax affairs in Ireland could lead to the levying of billions in fines on the company.

The EC is expected to publish today its ‘Opening Decision’ in the probe into Apple’s Irish tax affairs, which is part of formal state aid probes into certain multinational companies in a number of EU member states, announced in June.

Last night, the Financial Times reported that preliminary findings from the EC investigation would allege Apple engaged in “illegal tax deals” with the Government for more than 20 years, leaving it open to the possibility of fines.