Tech company ordered to pay up to $14.5bn in back taxes over deal with Ireland; Trump rejects former KKK leader’s support; ‘freaks on the peaks’ hold lonely watch for forest firesApple is facing a $14.5bn fine from the European commission over unpaid back taxes,stemming from arrangements it made over nearly 25 years with the Irish government. The ruling found that Dublin afforded Apple illegal state aid, allowing the US tech company to pay as little as 1% corporate tax rate on two-thirds of its global earnings, or levies a heavier fine than expected. The result of the Irish arrangement was that Apple avoided tax on nearly all profits from sales of its products across the EU’s single market by booking the profits in Ireland rather than the country in which the product was sold. Ireland’s finance minister said Dublin would appeal against the ruling,which columnist Owen Jones calls a vindication of protest. Here is an explainer.
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Source: theguardian.com