The European Union decided that a tax deal that Ireland gave to Apple Computers was illegal and says they have to pay money back to Ireland. Tim Cook, the CEO of Apple, is upset:
Timothy D. Cook, the Apple chief, defended the company’s tax practices in Ireland, countering European officials’ ruling this week that the Irish government provided illegal incentives which allowed the technology giant to pay essentially nothing some years. In an interview with the Irish broadcaster RTE, Cook said the company paid its fair share in Ireland, the United States, and elsewhere.
Cook noted that Apple planned to send some of its enormous amount of cash overseas back to the United States next year, although he did not specify how much. Those international reserves have been particularly divisive as they remain out of the reach of US tax authorities.
“The finding is wrongheaded,” Cook told RTE. “It’s not true — there wasn’t a special deal between Ireland and Apple.”
He continued, “When you’re accused of doing something that is so foreign to your values, it brings out outrage in you.”
That last bit is a joke, I assume, and it’s quite funny. Apple specifically moved its operation to Ireland to save billions of dollars in taxes and has basically said they’ll bring the overseas cash back to the US only if they get a special deal on taxes. But cheating on taxes is “foreign to their values”. Ha ha, good one Tim.