EU orders Apple to pay billions of dollars in back taxes

Kai Ryssdal and Stephen Beard Aug 30, 2016
HTML EMBED:
COPY
People walk past a computer shop selling Apple products in Cork city centre, southern Ireland. PAUL FAITH/AFP/Getty Images

EU orders Apple to pay billions of dollars in back taxes

Kai Ryssdal and Stephen Beard Aug 30, 2016
People walk past a computer shop selling Apple products in Cork city centre, southern Ireland. PAUL FAITH/AFP/Getty Images
HTML EMBED:
COPY

Apple got a massive bill for back taxes on Tuesday. The European Commission ordered the tech giant to pay back over $14 billion to Ireland, where Apple has its European headquarters.

Apple, and the U.S. government, reacted angrily to the demand. The U.S. Department of Treasury has already accused EU officials of unfairly targeting large American corporations. Apple says the tax bill will undermine its investment and job creation in Europe.

Click the above audio player to hear the full interview. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.