Apple is being forced to pay roughly $14.5 billion in back taxes to Ireland in what's regarded as Europe's biggest tax penalty.
After a multi-year investigation, the European Commission ruled the technology giant received unfair and illegal tax breaks in Ireland, where its European headquarters are located.
The $14.5 billion fee represents more than a decade of tax breaks. In 2003, the Irish government was charging Apple 1 percent on its European profits. In 2014, the tax rate fell all the way to 0.005 percent.
Thank you for reading the Springfield News-Sun and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.
Thank you for supporting in-depth local journalism with your subscription to the Springfield News-Sun. Get more news when you want it with email newsletters just for subscribers. Sign up here.