Apple's bill could reach 19 billion euros ($21 billion) with interest, and both the company and Ireland, Apple's European headquarters are appealing the European Commission ruling. But on the last day of an EU finance ministers' meeting focused on ways to harmonize tax rules for international companies, Dijsselbloem told reporters that these "have an obligation to pay taxes in a fair way." Apple will have to pay back taxes both in the United States and Europe, he added, "so get ready to do that." Philip Hammond, his British counterpart, said the EU was keen "to make sure that international corporations pay the right tax at the right place." Because it hasn't delivered on the reform promises it has made, it can't yet get hold of the 2.8 billion euros ($3.2 billion) due from this current phase of its bailout program.

Source: ABC News September 10, 2016 08:47 UTC