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EU says company's tax rate was nearly zero in 2014


08-31-2016 05:44 BJT

The European Union says tech giant Apple must pay up to 13 billion euros in taxes that were not collected in Ireland. EU Competition Commissioner Margrethe Vestager says the company received illegal tax benefits over the course of 11 years. 

The anouncement comes after EU antitrust regulators ruled that a special scheme to route profits through Ireland was illegal state aid. It is the biggest fine ever ordered by the European Commission. Both Apple and the Irish government have object to the ruling. They say the tax treatment afforded to Apple was in line with Irish and European Union law, and that they would appeal.

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