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Apple Irish tax ruling 'maddening', says Tim Cook

02 Septembre 2016, 10:52 | Troy Powers

Tim Cook told Irish state network RTE in an interview broadcast Thursday that the money, part of profits from 2014, should be brought back to the US next year. Cook said he would fight closely with Ireland to overturn the ruling wherein Apple has been asked to pay Ireland 13 billion euros in back taxes.

The EU's antitrust regulator Tuesday demanded that Ireland recoup roughly €13 billion in taxes from Apple, alleging that arrangements the government offered the company in 1991 and 2007 allowed it to pay around 1% to nearly zero tax on its European profits between 2003 and 2014.

"It's total political crap", the Apple CEO told the Irish Independent. The reason for all that, Apple says, is not because of how much tax Apple pays, but "about which government collects the money".

It's been found that Apple had been benefitting from illegal tax profits and because of this the European Commission instructed Ireland to recover the criminal aid from Apple and the amount will come to around $14.5 billion. CEO called the European Union forcing Apple to repay $14.5 billion in back taxes to Ireland.

Bourse de Paris. Dans le rouge ce jeudi soir (-0,65%)
Le marché est clairement en position d'"attente", ajoute le conseiller. La veille, il avait fini en hausse de 0,72%. Sanofi chutait de 1,98% à 67,72 euros.

Finance Minister Michael Noonan said he would seek official cabinet approval for an appeal hours after the decision was delivered Tuesday, describing it as "bizarre".

Both Apple and Ireland "played by the rules", he told the publication. From Apple's vantage point, the Commission is trying to "rewrite Apple's history in Europe, ignore Ireland's tax laws, and upend the global tax system in the process". Apple follows the law and pays all of the taxes we owe wherever we operate.

"What I feel strongly about is that this decision was politically based, of that I'm very confident".

"This probe has been three years underway to make sure we really have a solid case, which I firmly believe we do".

Climate change activist Leo DiCaprio is now implicated in an embezzlement scheme
However, according to USA authorities, $3.5 billion (NZ$4.83 billion) of that money was "misappropriated" between 2009 and 2015. He's also said to have donated a Lichtenstein sculpture worth $700,000 (NZ$965,860) to the LDF for another auction.

Apple provisions each year USA income taxes on about half of its foreign earnings to cover such a repatriation.

"It's maddening, it's disappointing, it's clear that this comes from a political place, it has no basis in fact or in law", he added.

He also criticized the retrospective nature of the order, which covers alleged unpaid taxes from 1993-2001. But it failed to agree a position, and will meet again on Friday to decide whether to appeal against the Commission's decision. "Like any marriage you go through pothole here or there but we stuck together because we always felt so close to the community and the people there".

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