European Commission Orders Apple To Pay $14.5 Billion
The European Commission has ruled Apple received illegal tax breaks in Ireland.By Ryan Biek | August 30, 2016
Apple is being forced to pay roughly $14.5 billion in back taxes to Ireland in what's regarded as Europe's biggest tax penalty.
After a multi-year investigation, the European Commission ruled the technology giant received unfair and illegal tax breaks in Ireland, where its European headquarters are located.
The $14.5 billion fee represents more than a decade of tax breaks. In 2003, the Irish government was charging Apple 1 percent on its European profits. In 2014, the tax rate fell all the way to 0.005 percent.