An EU ruling that Apple Inc must pay a huge tax bill to Ireland was clearly based on facts and existing rules and was not a decision aimed against the United States, European Commission President Jean-Claude Juncker said on Sunday. Apple’s Chief Executive Tim Cook last week described the ruling as “total political crap”, but France and Germany have come out to back Brussels on the decision. Read more: EU hits Apple with $14.5 billion tax bill. The decision comes amidst a coordinated global initiative to crack down on tax evasion by multinational companies, spearheaded by the Paris-based Organization for Economic Cooperation and Development (OECD). “This is not a decision against the United States of America,” said Juncker.

Source: Hindustan Times September 05, 2016 02:15 UTC