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Apple May Owe $8 Billion To the EU After Tax Ruling (bloomberg.com)

Posted by Soulskill on from the don't-forget-the-gratuity dept.

Robotron23 writes: An investigation by the EU Commission may make Apple liable for up to $8 billion in back taxes. Bloomberg Intelligence estimates Apple has paid only 1.8% tax on profits between 2004 and 2012 — this ruling increases their liability to 12.5%. This decision comes hot on the heels of a tax avoidance settlement Apple reached with Italy last month for $347 million.

2 of 148 comments (clear)

  1. Good! by nospam007 · · Score: 3, Funny

    Bummer!
    And now Ireland gets punished by having to accept those 8 billion dollars of back taxes, that will teach them.

  2. Tim Cook disagrees by Tony+Isaac · · Score: 4, Funny

    Tim Cook says Apple pays every tax dollar it owes. Maybe the key word is dollar here. He never said Apple pays every euro it owes!