FX.co ★ Apple faces fine of several billion euros

Apple is threatened fines of billions of euros for its suspicious policy carried out for two decades, The Financial Times reports.
The European investigators started looking into the company’s tax deals with Ireland. The Irish government is said to provide the iPhone maker with illegal state aid. The European Commission is set to unveil the details of the probe soon. Preliminary findings claim Apple benefited from illicit state aid after striking backroom deals with Ireland's authorities. Apple, which paid corporate tax rate of less than 2% in Ireland, could be charged with 137.7 billion dollars in cash offshore.
The investigation was launched in connection with large tax privileges given to the company by the governments of the Netherlands, Luxembourg and Ireland.