Apple to Pay back Billions

EU hits Apple with €13bn tax bill.

19:22 01 September 2016

The European Commission has ordered Ireland to recoup €13bn from Apple after it was found that preferential tax breaks was given to the giant tech company. 

 

Apple chief executive Tim Cook said that the ruling is “maddening” and “political”.

 

"It's maddening, it's disappointing, it's clear that this comes from a political place, it has no basis in fact or in law, and unfortunately it's one of those things we have to work through."

 

"When you're accused of doing something that is so foreign to your values, it brings out an outrage in you, and that's how we feel. Apple has always been about doing the right thing.

 

"We haven't done anything wrong, and the Irish government hasn't done anything wrong."

 

According to the Commission’s finding, Apple only paid €50 tax for every €1million earnings from one of its Ireland-based subsidiaries since 2014.

 

Mr Cook said: "It's a false number. I have no idea where the number came from. It is not true. Here is the truth. In that year, we paid $400m to Ireland, and that amount of money was based on the statutory Irish income tax rate of 12.5%."