Irish government should recover $14.6 billion tax bill from Apple read more at here www.spinonews.com/index.php/item/726-irish-government-should-recover-14-6-billion-tax-bill-from-apple

European commission has governed Ireland should recover 13 euros ($14.6 billion) from Apple in unpaid taxes. European union has ever made tax ruling regarding a single company.

European Commission said, the Irish government had granted illegal state aid to Apple by helping the tech giant to artificially lower its tax bill for more than 20 years.

"Member States cannot give tax benefits to selected companies this is illegal under EU state aid rules," said Commissioner Margrethe Vestager, Europe's top antitrust official.

In Ireland, apple paid tax at 1% or less on profits attributed to its subsidiaries, well below the 35% top rate in the United States and even well below Ireland's 12.5% rate.

That prompted complaints by both European and U.S. lawmakers, argued the deal gave Apple an unfair advantage in exchange for creating jobs in Ireland. CEO Tim Cook was even called to testify on Apple's tax deal before a Senate committee in 2013.

The bill for tax benefits, plus interest, covers 2003 to 2014. Apple has more than $231 billion in cash on its balance sheet to cushion the blow.

Apple is not the only company over its European tax affairs. Last October, European Commission ordered Starbucks and Fiat Chrysler to repay millions in taxes.

The ruling against Apple's tax deal comes despite a stern warning from the U.S. last week. The Treasury Department urged the European Commission to stop its tax crackdown on American companies, saying it would consider potential responses if Brussels doesn't change course.