• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii

3

Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
FinanceApple

Here’s Why Apple Likely Won’t Have to Pay All $14.5 Billion in Back EU Taxes

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
August 30, 2016, 1:51 PM ET
Apple is the latest company the European commission has cracked down on for unpaid taxes.
Photograph by Paul Faith—AFP/Getty Images
Add Fortune on Google for similar content.

Apple may still be able to take the bite out of its European tax bill.

On Tuesday, the European Commission fined the tech giant $14.5 billion, ruling Ireland provided illegal state aid to Apple between 1991 to 2007. The tech giant vowed to appeal, saying it was “confident the decision will be overturned.”

Apple CEO Tim Cook on Tuesday published an open letter reiterating the company’s claim that Apple had not received any special treatment from Ireland.

“[Apple] will likely draw in support of the US government. I think anything it ultimately pays is probably less, but is probably a ways off,” said Robert W. Baird and Co. analyst, Will Power on CNBC’s Squawk Box Tuesday.

Indeed, U.S. government offices have already spoken out against commission’s decision.

White House press secretary Josh Earnest said that the Obama Administration is concerned that the Commission’s decision could hurt U.S. taxpayers, as the $14.5 billion could be claimed as a tax deduction in the U.S., Reuters reported.

The U.S. Treasury Department also said the ruling could “threaten to undermine foreign investments, the business climate in Europe, and the important spirit of economic partnership between the US and EU.”

 

The Treasury said it would continue to monitor the case as it progresses in a statement to Fortune.

What’s more, even though the European Commission ordered that the taxes be paid to Ireland, the nation, for its part, doesn’t seem to want the taxes at all. After all, its lax corporate tax rates have helped boost its economy by attracting giants including Google and Facebook.

Irish Finance Minister Michael Noonan told CNBC Tuesday that the country would appeal to the ruling, restating Ireland’s position that the “full amount of tax was paid in this case and no state aid was provided.”

That said, the appeals process is likely to take years before Apple and the European Commission can finally put the issue to rest, wrote RBC Capital analyst Amit Daryanani in a note to clients Tuesday.

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Those bots sending discounts to your email is dynamic pricing in action. Get revenge on those bots by abandoning your cart
RetailConsumer Spending
Those bots sending discounts to your email is dynamic pricing in action. Get revenge on those bots by abandoning your cart
By Catherina GioinoJuly 3, 2026
34 minutes ago
Mortgage rates today, July 3, 2026
Personal Financemortgages
Mortgage rates today, July 3, 2026
By Glen Luke FlanaganJuly 3, 2026
1 hour ago
Current refi mortgage rates report for July 3, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 3, 2026
By Glen Luke FlanaganJuly 3, 2026
1 hour ago
Current ARM mortgage rates report for July 3, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for July 3, 2026
By Glen Luke FlanaganJuly 3, 2026
1 hour ago
Nissan CEO Ivan Espinosa was forced to put together a plan to save the Japanese carmaker in just six weeks: ‘I knew what had to be done’ 
AsiaAsia Agenda
Nissan CEO Ivan Espinosa was forced to put together a plan to save the Japanese carmaker in just six weeks: ‘I knew what had to be done’ 
By Andrew StaplesJuly 3, 2026
1 hour ago
The World Bank has elevated Vietnam and the Philippines to upper-middle-income status—but now they face ‘a far more demanding phase of development’
EconomyWorld Bank
The World Bank has elevated Vietnam and the Philippines to upper-middle-income status—but now they face ‘a far more demanding phase of development’
By Angelica AngJuly 3, 2026
1 hour ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
15 hours ago
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
Success
Today, Emily Blunt is worth $80 million thanks to her Hollywood career—but she actually wanted to be a UN Spanish translator on $80K
By Orianna Rosa RoyleJuly 2, 2026
1 day ago
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
Success
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
17 hours ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
18 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
8 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.