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Apple, Ireland to Appeal EC Decision Ordering Recovery of $14.5 Billion in Back Taxes

Apple (AAPL) will have to pay €13 billion ($14.5 billion) in back taxes to Ireland under a European Commission ruling Tuesday. Both Apple and Ireland said they will appeal the decision in a process that Applel warned could take several years but with no impact on its cash balance or future tax rate.

Amid a wider crackdown against corporate tax avoidance in the 28-nation bloc, the EC said that "undue benefits" granted to Apple amounted to illegal state subsidies, and...