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Apple May Need to Pay $8 Billion in Back Taxes

Accepted submission by Robotron mailto:gordonD0Tshure@gmail.com at 2016-01-16 09:15:09
Business
An EU Commission has ruled that Apple could have to pay $8 billion in back taxes [appleinsider.com]. Bloomberg Intelligence estimates Apple has paid about 1.8% tax on profits from 2004 to 2012 - with this ruling, their liability increases to 12.5%. This decision comes hot on the heels of a tax avoidance settlement Apple reached in December with Italy's government [cultofmac.com] for $347 million.

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