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EU tax probe on Apple to go on despite planned cash move

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EU tax probe on Apple to go on despite planned cash move

EU antitrust chief Margrethe Vestager said her office willnot cease its probe into AppleInc.'s tax dealings in Ireland,despite the company's intention to move some of its $200 billion offshore cashback to the U.S., the Financial Times(London) reported April 10.

Vestager declined to specify the amount Apple will pay ifthe EU rules against the company as the probe is still , according to the report.

Apple previously defended its tax dealings in Ireland, saying it pays alltaxes due in the country, and is not receiving unfair state aid.

The iPhone maker could pay up to over $8 billion in backtaxes if its Irish tax transactions are ruled illegal, according to previousreports.