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European Union launches probe of tax breaks for Apple, Starbucks, Fiat
European Union launches probe of tax breaks for Apple, Starbucks, Fiat

European Union officials said Wednesday they had launched an investigation into whether Ireland and two other member nations were providing improper tax breaks to Apple Inc., Starbucks Corp. and Fiat Group. The announcement came as the U.S. and other fiscally challenged countries have been trying to crack down on corporations funneling profits through foreign subsidiaries to avoid or reduce tax payments. "In the current context of tight public budgets, it is particularly important that large multinationals pay their fair share of taxes," said Joaquín Almunia, vice president in charge of competition policy for the European Commission. The investigation will determine...

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