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Apple CEO expects to repatriate billions of dollars to US next year

More than just lip service, Cook had plenty of nice things to say about the country and the 37-year "deep relationship" it's had with Apple.

Cook told the Irish Independent that the Commission's ruling would not deter Apple's Irish expansion.

Apple (NASDAQ:AAPL) chief Tim Cook cranked up his outrage levels today over the EU's US$14.5bn unpaid tax penalty. Apple has consistently been about doing the right thing.

One of those lawmakers, John Halligan, said parliament should be recalled to discuss an appeal of the decision. The final amount payable could be as much as $19 billion, Irish officials said.

"This probe has been three years underway to make sure we really have a solid case, which I firmly believe we do". A Treasury spokesperson issued a statement, saying that, "These actions can threaten to undermine foreign investment, the business climate in Europe, and the important spirit of economic partnership between the USA and the EU".

The European Commission this week ruled that Apple must pay €13bn in back taxes to Ireland for revenues booked through operations based in Ireland.

Meanwhile, the US government is furiously looking for means to have tax money from Apple that was obtained by the European Union sent back, according to the New York Times.

Cook continued to push for worldwide tax reformation but says any change should not happen retroactively, as the European Commission is attempting to act.

More news: US Open 2016: Angelique Kerber beats Karolina Pliskova in final

Both Apple and Ireland "played by the rules", he told the publication.

Apple took all of its profits from European sales and recorded them in Ireland.

That allowed Apple to pay just over $11 million in corporate taxes in 2011 - an effective tax rate of less than 1 percent.

He was particularly upset at the EU's demand for retroactive tax payments.

"No one did anything wrong here and we need to stand together".

Moreover, Apple has provisioned "several billion dollars" from its profits in 2014 to be repatriated to the United States, he said.

Apple CEO Tim Cook weighed in the recent European Commission tax ruling that stated Apple by calling it "maddening" and "political crap".

"This is a decision based on the facts of the case", she told journalists in Brussels. "This is necessary to defend the integrity of our tax system, to provide tax certainty to business, and to challenge the encroachment of European Union state aid rules". Cook has complained in the past that high US taxes have discouraged the company from bringing those earnings home.

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