TIME

Apple’s $14.5 billion tax spat signals a world of uncertainty for big corporations

CEO Tim Cook pushed back, writing, “The European Commission has launched an effort to rewrite Apple’s history in Europe . . . and upend the international tax system.”

EVER HEAR OF A DOUBLE IRISH? It’s not a drink but one of the controversial tax strategies that help some American companies keep profits abroad at lower rates. Such strategies are at the heart of the Aug. 30 ruling by the European Union demanding that Ireland claw back $14.5 billion in allegedly unpaid taxes from Apple, the world’s most valuable tech

You’re reading a preview, subscribe to read more.

More from TIME

TIME2 min readPolitical Ideologies
The Party Of Mandela Fails To Deliver
The African National Congress has led South Africa’s government since the end of apartheid in 1994. But as voters go to the polls on May 29, there’s good reason to wonder whether the ANC might be in real trouble. During the ANC’s most recent term in
TIME5 min read
Paris Mayor Anne Hidalgo Is Reimagining The Olympics
When Paris kicks off the Olympic Games on July 26, it will be with athletes floating on an armada of boats down the Seine River, rather than marching in a stadium as it has always been. That will be the first of many breaks with Olympic tradition. Ke
TIME6 min read
Titans
Last May, U.S. Surgeon General Vivek Murthy issued an advisory about the profound consequences of loneliness and isolation—a departure from the type of standard medical conditions his predecessors prioritized. While traveling the country, Murthy had

Related Books & Audiobooks