The European Commission, is reportedly launching investigations into Apple’s alleged tax avoidance in Ireland, Luxembourg and the Netherlands. That’s according to Irish state broadcaster RTE and Business news wire Dow Jones citing anonymous sources.
The investigation in Ireland has not yet been confirmed by local authorities, while an EU’s investigation arm refused to comment on the reports. There has been criticism that American multinationals, such as Apple, Amazon, Google and Starbucks, enjoy sweetheart tax deals while the entire continent is being squeezed by austerity initiatives.
The markets are awaiting an official announcement concerning the European investigations. Apple shares were up 6-tenths of a percent in U.S. trading on Tuesday.