Ireland Ordered to Recoup €13 Billion from Apple

The E.U. antitrust regulator has ordered Ireland to recoup €13 billion ($14.5 billion) in taxes, saying that Apple was given selective treatment in Ireland that allowed it to gain advantage over other companies, and pay almost zero tax on European profits between 2003 and 2014.
Irish Finance Minister Michael Noonan said he “disagreed profoundly” with the European Commission’s decision and said Ireland would appeal the decision in order “to defend the integrity of our tax system.”
The ruling could have an impact on other U.S. companies doing business in Europe. A spokeswoman for the U.S. Treasury Department said, “The commission’s actions could threaten to undermine foreign investment, the business climate of Europe, and the important spirit of economic partnership between the U.S. and the E.U.”
Apple also disputed the E.U. ruling and said it would appeal. In an open letter, chief executive Tim Cook added, “Apple follows the law and we pay all the taxes we owe.” ♦