European Commission Investigating Apples Tax Policies Apple Might be have to Pay Billions in Back Taxes
Reportedly, Apple Inc might owe greater than $8 billion as back taxes as a result of an investigation launched by the European Commission in 2014 into its tax policies.
The decision of the investigation could be out by March.
The regulators have accused the maker of iPhone of applying subsidiaries in Ireland in order to shift away from paying taxes in the U.S on revenue that's generated outside the country. Apple says it will appeal an adverse ruling.
Apple is not the only U.S company to have its tax policies questioned but might be the biggest one among other global players like McDonalds Corp., Starbucks Corp. and Amazon.com Inc., to face probes by the European authorities.
In October, the multinational tech company headquartered in California listed the scrutiny of its taxes as one of the danger issue for investors.
Apart from the investigation launched by the European regulators, the company has also faced scrutiny from the U.S. Internal Revenue Service regarding its tax return policies.
Tim Cook, Apple's Chief Executive Officer earlier denied the company utilizing any tricks to avoid paying taxes.
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