The European Union has subdued the tech giant Apple to reimburse Ireland with a $15 billion worth sum as back taxes, stated the recent reports. The move took the financial sector in a blow as it raised a question on America’s globally leading corporation’s credibility towards paying a fair share in its operating countries.
As part of the imposition, Apple was asked to pay some billions more as an interest to the country. Though the amount was easily affordable by the Apple team, the firm challenged the EU decision. Later, it was revealed that Ireland gave a preferential benefit to Apple by allowing it to pay negligible taxes in the European region for a long span of eleven years.
The Ireland authorities, however, showed support for Apple in the case. The White House rebuked the decision while other groups supported it by accusing business giants like Apple using influence to alter tax implications.