The Apple Ireland Tax has captured the attention of tech groups and businessmen alike.
According to the New York Times, “Apple paid only 50 euros in taxes for every million euros in profit during 2014. As part of its ruling, Europe demanded that Ireland recoup 10 years’ worth of back taxes, some 13 billion euros, or about $14.5 billion, plus interest.”
However, Ireland is resisting to take the money. Instead, they will appeal in an appeal to renounce the money, in order to maintain a lucrative partnership with Apple. Tim Cook described the whole event as, “maddeningly political.”
The legalities of the partnership are still under scrutiny but the Apple Ireland tax has people talking about overseas investments and criticizing the tech conglomerate for its “vague tax codes.”
Apple and Ireland plan to fight the EU demand even if takes years.