Apple Ordered To Pay $14.5 Billion In Back Taxes

Foo Yun Chee/Reuters, Time: Business
Tue, 08/30/2016 - 3:30am

BRUSSELS- E.U. antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. The massive sum, 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the E.U.

Topics: brussels e.u competition commission margrethe vestager washington online amazon mcdonald s corp luxembourg starbucks corp swedish atlas copco ab for apple june commission irish finance minister michael noonan this commission s reverse engineering the commission cork ireland s dublin fianna fail the u.s treasury department brussels apple ireland europe commission ireland the u.s apple i irish the billion taxes ordered to pay percent company state companies government rate euros appeal profits million system aid cash decision paid case laws statement international income support quarter effect years country opposition illegal corporate executive taxation reported year staff rulings dollars rules

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Apple Ordered To Pay $14.5 Billion In Back Taxes

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