Apple to Pay Record 13 Billion Euros in Irish Tax Case – Updated

, Apple to Pay Record 13 Billion Euros in Irish Tax Case – UpdatedApple must pay back no less than €13 billion ($14.5 billion) to Ireland after the company received illegal tax benefits from the country, according to a decision announced by the European Commission only a few minutes ago in a case that started in June 2014.

According to the Commission, Apple had received benefits from Ireland since 1991, and the company thus paid taxes that were significantly lower in the country, contributing to bigger profit that “did not correspond to economic reality.”

“Almost all sales profits recorded by the two companies were internally attributed to a ‘head office.’ The Commission’s assessment showed that these ‘head offices’ existed only on paper and could not have generated such profits. These profits allocated to the ‘head offices’ were not subject to tax in any country under specific provisions of the Irish tax law, which are no longer in force,” a representative of the European Commission has announced.

The decision calls for Apple t… (read more)

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