The Presidential Daily Brief

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    Apple Will Have to Pay Billions in EU Tax Penalty

    They had good luck with the Irish … for a while. But Apple’s sweetheart deal with the Emerald Isle also violated core EU tax principles: Ireland allegedly gave the tech juggernaut tax perks not available to other companies, according to a two-year investigation. Now Brussels has ordered Apple to pay about $14.5 billion for 10 years of back taxes, one of the largest judgments of its kind — though Ireland and Apple say they’ll appeal as other big companies like Starbucks and Amazon undergo similar EU tax scrutiny.

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