What the Apple-Ireland Tax Kerfuffle Means for Other U.S. Tech Companies in Europe

Apple found itself in some hot water, after the European Union said the iPhone maker owed Ireland 13 billion euros ($14.5 billion) in back taxes.

Author:: Scott Gamm
Publish date:: Aug 30, 2016 9:14 AM EDT

Apple (AAPL) - Get Report found itself in some hot water, after the European Union said the iPhone maker owed Ireland 13 billion euros ($14.5 billion) in back taxes, according to a Tuesday ruling. Apple and Ireland will appeal the ruling, in a process that could take years. Jasper Lawler, a market analyst with CMC Markets, based in London, said Apple has had a presence in Ireland for years, even before the introduction of its legendary iPhone. 'Some of the other big tech companies have followed suit - Amazon (AMZN) - Get Report , Google (GOOGL) - Get Report , Microsoft (MSFT) - Get Report and Facebook (FB) - Get Report have thousands of employees in Ireland,' he said. 'From Ireland's perspective, that's been good for their economy.' TheStreet's Scott Gamm reports from Wall Street.