Apple has been landed with by far its biggest tax bill ever this week as the European Commission has deemed its special scheme for paying tax in Ireland illegal. Now Apple and the Irish government are preparing to appeal the decision and hopefully save Apple billions of dollars in the process.
The illegal tax benefits the European Commission identified relate to the way in which Apple pays tax in Ireland. The tech company pays its taxes in Ireland for all the gadgets and services it sells across Europe. The problem is, Apple has a special scheme agreed with the Irish government that means its tax rate has been as low as 0.005% in 2014.
