Apple Ordered to Pay Up to $14.5 Billion in EU Tax Clampdown

  • EU says Irish deal slashed iPhone maker’s taxes from 2003-2014
  • Ireland has vowed to appeal tax decision in European courts

Apple Faces Record Payment in EU Tax Crackdown

Apple Inc. was ordered to pay as much as 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker’s tax bill, in a record crackdown on fiscal loopholes that also risks inflaming tensions with the U.S.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.