European officials on Tuesday ordered Apple to pay up to $14.5 billion in back taxes, plus interest, to Ireland. The European Commission is essentially accusing Apple of harboring profits in Ireland in exchange for providing jobs there. The arrangement, say European officials, meant Apple has enjoyed tax benefits not extended to its competition. In a statement posted online, Apple CEO Tim Cook says his company plans to appeal the “unprecedented” ruling.
Comment on Read Apple CEO Tim Cook’s Response to Europe’s Tax Ruling
Alex Fitzpatrick, Time: Business
Tue, 08/30/2016 - 6:15am
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