EU probes three countries over tax deals for corporations

|By:, SA News Editor

The EU has reportedly opened an informal investigation into Ireland, Luxembourg and Holland over assurances that they may have given to multinational corporations about how their tax affairs would be treated.

The probe comes amid a furor over how major companies such as Starbucks (SBUX) and Apple (AAPL) use the three countries to limit their global tax bills. The EU is looking at whether any tax breaks that firms may have been offered breach state-aid rules.

If Brussels finds wrongdoing, it could force the countries to collect lost revenue from any unlawful deals.