Photographer: Scott Eells/Bloomberg

EU Lays Down the Law on Tax Deals as Apple Probe Continues

  • EU regulator clarifies rules for profit-shifting arrangements
  • Transactions between units should be at market prices

The European Union, locked in a tax battle with the likes of Apple Inc. and McDonald’s Corp., laid down the law in its bid to rein in governments that woo multinationals with special fiscal deals allowing them to reduce their fiscal liability by booking profits abroad.

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