• Apple faces EU billionaire fine for tax agreements in Ireland

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30 September 2014State Aid for Apple and Fiat Finance . Brussels and Ireland are targeted by EU countries accused of favoring Apple and Fiat respectively, through its company Fiat Finance and Trade which deals with the financing and treasury of Lingotto, in the matter of taxation. 

The Apple investigation
The investigation announced last June on the Apple case speculates that the agreements signed in Dublin by the American company in 1991 and 2007 would have allowed tax savings of billions of dollars, benefiting the group compared to competitors who did not have this possibility. The technical reasons that led to the opening of the investigation, dated 11 June, were published today on the Commission's Competition DG website, but it is not known when the results will be known. 

About Fiat
As regards the document on Fiat, the accusation concerns a "preliminary price agreement" between the tax authorities of Luxembourg and Fiat Finance and Trade (Fft), the Lingotto company that deals with financing and treasury. It would represent State aid that undermines competition.