HomeBusinessEU Orders Apple to Pay Back $14.5 Billion for Tax

EU Orders Apple to Pay Back $14.5 Billion for Tax

Apple-Logo-PNG-Official-Version-high-quality-large-press-kit-transparency-alpha-channel30-August, Brussels – Margrethe Vestager, EU Commissioner for Competition, speaks out about supposedly unfair tax treatment for Apple in Ireland and orders them to pay a record sum of $14.5 billion plus interest.

The “state aid” provided by Ireland in order for Apple to stay competitive seemed to be against competition regulations of the European Union. Apple is not a startup in need of help and certainly should not receive tax aid packages as per Martin Schulz, German politician.

Irish officials and Apple representatives are now in pursuit to fight that order in law courts of the EU. This is a record order for tax payments and represents the peak of a series of tax fraud cases. While this might not scratch the tech roadmap of the US consumer electronics giant, it will certainly leave a mark in the books.

YouTube: Apple Hit by Record Tax Payment in EU Crackdown 

Photo credit: Håkan Dahlström
Source: Dara Doyle, Stephanie Bodoni (Bloomberg) / Martin Schulz (German Social Democratic Party) / Margrethe Vestager (EU Commissioner for Competition)

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Christopher Isakhttp://www.christopherisak.com
Hi there and thanks for reading my article! I'm Chris the founder of TechAcute. I write about technology news and share experiences from my life in the enterprise world. Drop by on Twitter and say 'hi' sometime. ;)