redhanded
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EU tax investigation concludes, Apple hammered with $14.5 billion bill
Being pedantic, 0.005 isn't an actual tax rate, the EU judgement says it was the effective tax rate.
So it seems that Apple have a mind numbingly complex set of corporate entities and the Irish tax authorities made a ruling that Apple could allocate the vast majority of their profits to a corporate entity that didn't pay tax while a much smaller amount of profits were allocated to another entity that paid tax at the Irish corporate rate which is 12.5%.
The EU are basically saying that everything should have been taxed at 12.5%.
Expect this to go to appeal with an argument if the ruling about allocation of profits was correct or not. The Irish government will back their own tax department.
