Today, a European Commission has ruled that Apple must pay $14.5 billion in back taxes to Ireland. (Photo by Andrew Harrer/Bloomberg)The European Union has ordered Apple to pay more than $14.5 billion in back taxes to Ireland. [Apple owes $14.5 billion in back taxes, European authorities say]If Apple is forced to pay, exactly how much of a dent would $14.5 billion make on the company’s bottom line? Apple posted nearly $234 billion in annual revenue in 2015, a 28 percent increase from the year before. [Tim Cook, the interview: Running Apple ‘is sort of a lonely job’]Put another way, a possible $14.5 billion payment to Ireland would amount to about 10 percent of the company’s iPhone sales in the past year.

Source: Washington Post August 30, 2016 14:21 UTC