EU orders Apple to pay 15 billion dollars in back taxes to Ireland
The European Union ruled Apple must retroactively pay about 15 billion dollars in unpaid taxes to Ireland plus interest for 2003 2014 after finding Ireland granted a sweetheart tax deal. Apple and Ireland vow to appeal while critics applaud the move as a curb on tech giants tax avoidance.
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Apple and Ireland contest 13 billion euro tax ruling
Apple and Ireland rejected a record penalty of 13 billion euros in taxes and plan appeals. The BBC AP and Tribune reports note Ireland’s longstanding low tax regime for multinationals and similar practices in Luxembourg and the Netherlands.
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Wall Street Stocks Drift Lower as Investors Hold Fire
Quiet trading on Tuesday left major indexes down modestly with Hershey dropping after rejecting a merger bid and Apple slipping on a Europe tax hit. Traders awaited the Federal Reserve’s rate path and Friday’s August jobs data.
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