(REUTERS)Europe has ordered Apple to pay 13 billion euros, plus interest, to the Irish government for taxes Ireland should have collected and, perhaps more importantly, that Apple should have paid, if not to Ireland then to someone else. The European ruling points out that the Irish "head office" was a fiction that "existed on paper." "These profits allocated to the 'head office,'" said the commission, "were not subject to tax in any country under specific provisions of the Irish tax law." Apple says it will appeal the European tax ruling, but the dispute has overshadowed the launch of the new iPhone 7, expected next week. If Europe's move this week prompts new global action, everyone — except perhaps Apple shareholders, Apple managers and other tax-avoiding companies — will benefit.

Source: CBC News August 31, 2016 09:00 UTC