WASHINGTON: The United States has accused the European Union of grabbing revenue intended for US coffers when it ordered Apple Inc to pay up to US$14.5bil (RM59.18bil) in back taxes, a decision that could cause friction at an international summit in China next week.
The EU executive this week retroactively scrapped a tax deal Apple had with Ireland, arguing the technology giant was effectively paying a tax rate of a fraction of 1% on its profits.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!