+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here's how much Apple has actually paid in foreign taxes over the years

Aug 30, 2016, 22:54 IST

After a three-year probe, the European Commission has come to a decision regarding Apple's alleged tax underpayments in Ireland, and the verdict isn't good for the iPhone maker: It's now on the hook for €13 billion ($14.5 billion), plus interest, in back taxes. It's the largest fine the EU has ever doled out to a company, and significant even for a firm of Apple's size.

Advertisement

This chart from Statista should help put the number into perspective. From 2003 to 2014 - the period to which the EU's investigation and fine applies - Apple says it's paid $4.89 billion in income taxes outside the United States. That's over the course of 12 years. The EU's fine asks for almost triple that.

Apple and Ireland both plan to appeal the ruling, a process that reportedly could push any decision back by three or four years. Apple itself says the effects here are more long-term than short-term, and if it does have to pay back the full amount, it won't have that much trouble footing the bill. And again, the EU's complaint is with Apple's alleged "sweetheart deal" with Ireland, not foreign tax rates in general. Still, the ruling is unprecedented.

Statista

NOW WATCH: 6 ways to clear up storage space on your iPhone

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article