File - This Jan. 3, 2012 photo, the Starbucks Coffee logo in Mountain View, California. (AP Photo/Paul Sakuma)
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The European Union is demanding that U.S. coffee chain Starbucks and carmaker Fiat repay up to 30 million euros ($34 million) each in tax breaks they received from EU nations, in a major ruling to cut down on sweet tax deals multinationals often shop for.It said Wednesday that agreements Starbucks struck with the Netherlands and Fiat with Luxembourg years ago were not fair.The Netherlands must now recoup between 20 million and 30 million euros from Starbucks and Luxembourg as much from Fiat.Fiat's taxes "would have been 20 times higher if calculations had been done at market conditions," she added said. She said the EU is investigating similar tax practices in all of the bloc's 28 nations.
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