Read Apple CEO Tim Cooks Response to Europes Tax Ruling
European officials on Tuesday ordered Apple to pay up to 14.5 billion in back taxes, plus interest, to Ireland. The European Commission is essentially accusing Apple of harboring profits in Ireland in exchange for providing jobs there. The arrangement, say European officials, meant Apple has enjoyed tax benefits not extended to its competition. In a statement posted online, Apple CEO Tim Cook says his company plans to appeal the "unprecedented" ruling. The Irish government also said it would fight the ruling. "I disagree profoundly with the commission's decision," Irish Finance Minister Michael Noonan said. Read Cook's full letter regarding the ruling below