The European Union on Tuesday nailed Apple with a $14.5 billion bill for back taxes.
“The European Commission has today has adopted a decision that Apple’s tax benefits in Ireland are illegal,” said EC Competition Chief Margrethe Vestager at a press conference in Brussels. Tax breaks Ireland granted to Apple for more than two decades artificially reduced Apple’s tax burden, in breach of European Union rules, she explained. “Apple now has to repay the benefits worth up to 13 billion euros, plus interest.”
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