The European Commission has ruled that Apple owes 14 billion US dollars in unpaid taxes for its operations from its base in Ireland. However, the Irish government has rejected the ruling, and said it will appeal. And despite Apple being accused of dodging US taxes for some time, Washington has also rejected the ruling. The US has the authority to initiate retaliatory increases in taxation if it feels American businesses are being discriminated against abroad. This could spark a US/EU tax war. Tao Jingzhou, of Dechert LLP China and the International Chamber of Commerce, Max Wolff, New School University, and Daniel Gros, from the Centre for European Policy Studies, discuss the implications of the ruling for Ireland, multinational corporations and US businesses in Europe.
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