Apple Ordered to Pay Up to $14.5 Billion in EU Tax Clampdown
- EU says Irish deal slashed iPhone maker’s taxes from 2003-2014
- Ireland has vowed to appeal tax decision in European courts
Apple Faces Record Payment in EU Tax Crackdown
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Apple Inc. was ordered to pay as much as 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker’s tax bill, in a record crackdown on fiscal loopholes that also risks inflaming tensions with the U.S.
The world’s richest company benefited from selective tax treatment that gave it an unfair advantage over other businesses, the European Union regulator said Tuesday. It’s the largest tax penalty in a three-year campaign against corporate tax avoidance. Apple and Ireland both vowed to fight the decision in the EU courts.