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VentureBeat reports “The United States has accused the European Union of grabbing revenue intended for U.S. coffers when it ordered Apple to pay up to $14.5 billion in back taxes, a decision that could cause friction at an international summit in China next week.

The EU executive this week retroactively scrapped a tax deal Apple had with Ireland, arguing the technology giant was effectively paying a tax rate of a fraction of 1 percent on its profits.” Read More