Monday December 19, 2016

Apple Appeals EU Tax Ruling

I think we all knew this was coming. "Convenient target" or not, it's not like Apple was just going to cough up $14 billion without a fight.

Apple has launched a legal challenge to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty, senior executives said. Apple's combative stand underlines its anger with the European Commission, which said on Aug. 30 the company's Irish tax deal was illegal state aid and ordered it to repay up to 13 billion euros ($13.8 billion) to Ireland, where Apple has its European headquarters.