EU orders Ireland to recover up to $14 billion in back taxes from Apple

August 30, 2016 11:01 AM

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EU orders Ireland to recover up to $14 billion in back taxes from Apple

The ruling, which will be contested by both Apple and the Irish government, may threaten Ireland's ability to attract investment from global companies eager to limit their tax bill on overseas earnings.

The U.S. government also expressed "disappointment" at the result, which has become a touchstone for concerns about U.S. multinationals keeping foreign profits offshore.

Also read: In Denmark, Apple loses court case over refurbished phone

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