Data Sheet—Thursday, September 1, 2016

As is often the case when Apple is involved, the sheer size of the European Union’s recent tax decision against the company almost defies the imagination. The EU said this week that Apple has to pay back $14.5 billion worth of tax it avoided as a result of deals it struck with Ireland. Of course, even such a gargantuan tax bill wouldn’t be a big stretch if Apple decided to pay. It makes about $4.5 billion in profit every month, so it could pay the EU penalty in a little over three months. But that’s not the point. The point is that the decision, which ruled that Ireland gave Apple favorable tax deals in contravention of European Community regulations, is just the beginning of the EU’s war on global tech…

Link to Full Article: Data Sheet—Thursday, September 1, 2016

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