Paying an average global tax rate of 26 percent, Apple claims to be the largest taxpayer in the world [File: Tony Avelar/AP]

The European Union‘s order to Apple to pay 13 billion euros ($14bn) in back taxes “defies reality and common sense”, the United States technology giant said as the two sides sparred in a case that is key to the EU’s crackdown on sweetheart deals to multinationals.

The iPhone maker is appealing to Europe‘s second-highest court to overturn the European Commission’s 2016 ruling that it pay the record sum back to Ireland, which gave Apple tax breaks since the 1990s.

Ireland, which has benefited from investment by multinational companies attracted by low tax rates, is also challenging the commission’s decision.

The EU executive’s ruling in

Read More At Article Source | Article Attribution