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Apple Ordered To Pay Up To $14.5 Billion In EU Tax Crackdown
bloomberg.com
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. It’s the 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. over taxation policies -- with the U.S. having already complained that Europe is unfairly targeting American companies and threatening global tax reforms.
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