Ireland Owed Up To 13B Euros In Back Taxes From Apple
On Tuesday, the European Commission held that the 13 billion in tax breaks Apple had received from Ireland was illegal state aid. This ruling requires the tech giant to pay nearly $14.5 billion plus interest after it paid less than .005 percent in taxes on all iPhone sales from 2004 to 2014. Apple has already appealed the ruling. But the European Commission has said that the only way the bill will be reduced is if other countries in the European Union ask for some of Apple's back taxes. As part of the case, the E.U. ruled that Apple claimed all of its iPhone sales were through Ireland, so countries may be entitled to recover back taxes from Apple if they can show iPhone sales took place in their country. feeds.reuters.com/~r/reuters/topNews/~3/S0019LoFFZA/us-eu-apple-taxavoidance-idUSKCN114211 www.wochit.com This video was produced by YT Wochit News using wochit.com
