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Apple Ordered to Pay Up to $14.5 Billion in EU Tax Crackdown
Apple Inc. was ordered to repay a record 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker’s tax bill. The world’s richest company benefited from a “selective tax treatment” in Ireland that gave it a “significant advantage over other businesses,” the European Union regulator said Tuesday in its largest tax penalty in a three-year crackdown on sweetheart fiscal deals granted by EU nations. Apple and the Irish government have both vowed to fight the decision, which also risks stoking a fight with the U.S. “Ireland granted illegal ... (full story)
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