European Commissioner Margrethe Vestager gestures during a news conference on Ireland's tax dealings with Apple Inc at the European Commission in Brussels, Belgium August 30, 2016. REUTERS/Eric Vidal
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The European Union's crackdown on corporate tax avoidance has landed on Apple; its antitrust regulator is demanding that the U.S. tech giant pay Ireland up to 13 billion euros ($14.5 billion) plus interest in back taxes.The EU charges that Apple and other big companies struck deals with EU countries to pay unusually low tax in exchange for basing their European operations there.The EU's investigations of Apple and other multinationals trace their origins to a 2014 leak of documents that showed how big companies shop around among EU states to get as low a corporate tax rate as possible. In January, the EU Commission, which polices EU rules, unveiled new plans to tackle the problem. They include closing tax loopholes and improving the way tax information is shared across the 28-nation EU.This deprives EU governments of tax revenues.
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