Apple CEO: EU's $14.5B tax decision is 'maddening'

Listen
Text
  • Small
  • Medium
  • Large

Apple CEO Tim Cook has spoken out on the European Commission's order that his tech company pay Ireland more than $14.5 billion in taxes, according to The New York Times.

The Commission, the European Union's executive body, found Ireland granted Apple illegal tax breaks from 2003 to 2014, reducing the amount the company paid in taxes from 1 percent to 0.005 percent, according to the Commission.

On Thursday, Mr. Cook called the order "maddening" and "unbelievable."

"The finding is wrongheaded," Mr. Cook told Irish broadcaster RTE, according to the Times. "It's not true — there wasn't a special deal between Ireland and Apple."

He added that Apple has plans to send a portion of its revenue in Ireland back to the U.S. in 2017.

Mr. Cook said he's certain the Commission's order will be overturned, but in case it isn't, Apple will set aside funds in case it loses the appeal.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars