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    Aug 31, 2016

    Apple must pay $19.8b in back taxes

    THE European Union (EU) yesterday said United States tech giant Apple must repay a record 13 billion euros (S$19.8 billion) in back taxes after ruling that a series of Irish sweetheart tax deals were illegal.

    "The European Commission has concluded that Ireland granted undue tax benefits of up to 13 billion euros to Apple," a Commission statement said.

    "This is illegal under EU state aid rules because it allowed Apple to pay substantially less tax than other businesses.

    "Ireland must now recover the illegal aid."