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January 16, 2016 04:00 pm

Apple May Owe $8 Billion To the EU After Tax Ruling

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.

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/n4Qm6FPUdo0/apple-may-owe-8-billion-to-the-eu-after-tax-ruling

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