EU: Apple Must Repay $14.5 Billion In Back Taxes To Ireland

A European Union ruling Tuesday determined that Apple owes Ireland $14.5 billion in taxes and must now pay up. The amount makes the ruling the largest the organization has ever issued on a single company. Apple executives said the company will appeal the decision and believe the ruling β€œupended the international tax system,” CNN reports. β€œMember states cannot give tax benefits to selected companiesβ€”this is illegal under EU state-aid rules,” said Margrethe Vestager, Europe’s top antitrust official.