After EU’s Apple Decision, Obama Says Tax Coordination Needed
- Global tax avoidance strategies were part of G-20 discussion
- Obama comments on EU tax decision requiring Apple to pay
U.S. Criticizes EU Ruling on Apple as 'Unfair'
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International tax policies should be better coordinated among countries to avoid problems, President Barack Obama said on Monday, following the European Union decision that would require Apple Inc. to pay billions of dollars in back taxes.
“It’s in the interest of all countries, whether they’re developed countries or developing countries, to put a stop to this,” Obama told reporters at the close of the G-20 summit in Hangzhou, China. He was speaking for the first time about the decision that could cost Apple, a U.S.-based company, as much as 13 billion euros ($14.5 billion).