French finance minister says 'normal that Apple should pay normal taxes'
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo - RTX2NQ7C
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
PARIS (Reuters) - The European Commission was right to order Apple to pay 13 billion euros ($14.48 billion) in back tax, French Finance Minister Michel Sapin said on Thursday, backing Brussels as tensions flare with Washington over the ruling.
"The European Commission treated it as abnormal state aid... the European Commission is doing its job," Sapin told a news conference. "It's normal to make Apple pay normal taxes."
The United States has accused the European Union of grabbing revenue intended for U.S. coffers with the decision, comments that could cause friction at an international summit in China next week.
(Reporting by Leigh Thomas and Yann Le Guernigou; Editing by Andrew Callus)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. asks South Korea to arrest former U.N. chief Ban's brother
- Mexico deports 91 Cubans after U.S. ends 'wet foot, dry foot'
- Haiti's president-elect hit with money laundering allegation
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!