DONOHOE SAYS IT IS UP TO EU TO COMMENT ON GOOGLE'S TAX REGIME - Minister for Finance Paschal Donohoe has said it is up to the European Commission to comment on any investigations it may be considering, according to The Irish Times, as he declined to comment on reports that Brussels is scrutinising Google’s tax arrangements in Ireland.
Bloomberg reported on Saturday that the commission held in-depth talks with Irish authorities late last year about whether Google complies with rules limiting tax incentives given by individual European countries. No formal investigation has yet been launched, according to the report, but it comes amid a clamp-down at EU and OECD level on the tax practices of digital companies.
Speaking in Washington, where he was attending the IMF-World Bank Spring meetings, Mr Donohoe declined to confirm if he had spoken to competition commissioner Margrethe Vestager on the issue.
DEVELOPER OFFERS €69M FOR COMPLEX TO BUILD FLATS NEAR NEW FACEBOOK HQ - The Irish Independent reports that Allied Real Estate Group, a company controlled by developers Adrian Langan and Cathal McGinley, is offering €69.3m for all 90 apartments at Ballsbridge Court in Dublin with a view to levelling them and building 300 or more build-to-rent units on the site.
Ballsbridge Court backs on to AIB headquarters, which will eventually be home to Facebook's new European base. Facebook opened its first office in Ireland a decade ago and now employs about 4,000 people across a number of city centre sites.
The Facebook headquarters on the AIB campus, which is being developed by Johnny Ronan, is expected to be home to 5,000 of the US company's employees when it's completed in about 2022. AIB is moving its corporate headquarters to Molesworth Street in the city centre.
APPLE BETS BIG ON ARCADE - The Financial Times reports that Apple is spending hundreds of millions of dollars to secure new video games for its forthcoming Arcade subscription service, according to serveral people familiar with the deals.
The substantial outlay shows how seriously Apple is taking games as a new revenue source. Some analysts believe it could become a multibillion-dollar business for the company.
The move reflects increasing competition in Silicon Valley for exclusive content rights, as the iPhone maker bids against rival platforms such as Google and Tencent, as well as the console makers Nintendo, Sony and Microsoft.