Apple loses fight against 13 billion euro EU tax order to Ireland By Reuters

BRUSSELS (Reuters) – Apple (NASDAQ:) on Tuesday lost its fight against an order by EU competition regulators to pay 13 billion euros in back taxes to Ireland as part of an EU crackdown against sweetheart deals between EU countries and multinationals.

The European Commission issued the order in 2016, saying that the iPhone maker benefited from two Irish tax rulings for over two decades that artificially reduced its tax burden to as low as 0.005% in 2014. (The story has been corrected to change the text from a separate Google (NASDAQ:) case to the Apple case)