While Apple could easily afford Reddit BRUSSELS The European Union ordered Apple on Tuesday to pay nearly $15 billion in back taxes to Ireland, plus billions more in interest, in a move that dramatically escalates the fight over whether Americas biggest corporations are paying their fair share around the world. While Apple could easily afford the bill, the tech giant said it will challenge the EU decision, which found that Ireland granted a sweetheart deal that let Apple pay almost no taxes across the European bloc for 11 years. And Ireland, which has long used low taxes to attract foreign businesses, said it will stand with Apple. We now find ourselves in the unusual position of being ordered to retroactively pay additional taxes to a government that says we dont owe them any more than weve already paid, Apple CEO Tim Cook complained in a statement. The White House also blasted the ruling as unfair and disruptive to its own efforts at tax reform. great siteBut the decision was welcomed by groups that have long criticized the practices used by Apple and other large companies to legally reduce their tax obligations. The ruling was the latest in a series of aggressive moves by European officials to hold U.S. businesses, particularly big tech companies, accountable under the EUs rules on taxation, competition and privacy. Theyre going after Apple, which means a big name and big dollars, said Brad Badertscher, a corporate tax expert at the University of Notre Dames Mendoza College of Business. Its a big shot across the pond to U.S. companies. California-based Apple reported over $53 billion in profit in its last fiscal year on worldwide sales of more than $233 billion.
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