As The Financial Times reported, Apple potentially faces billions of euros in back taxes in the face of an official ruling from the EU. According to EU competition commissioner Margathe Vestager, Apple and Ireland have been colluding to provide substantial tax breaks to the technology company for a number of years. As one of the most prolific companies in the world today, Apple has a financial target on its back. The fact that they pay less taxes than they likely should is hardly up for debate. But the methodology used to manifest a solution is far from well-organized. The back taxes in question vary in size depending on the source. The investment bank JP Morgan claims that the penalties could reach has high as $19 billion, which would put a substantial damper on Apple’s profits. Other less dramatic estimates claim that the fine will likely hover in the hundreds of millions, which while still large, would do far less to penalize Apple. Apple has become a staple of the tech conversation for millions of smartphone, laptop, and general gadget users around the world. While the actual amount of their tax infraction remains a mystery, one question still remains: is the iPhone 7 going to have a headphone jack or not? H / T Mashable
