WASHINGTON, Aug. 30, 2016 /PRNewswire-USNewswire/ -- CompTIA, the Computing Technology Industry Association, released the following statement on today's ruling by the European Union that Apple must pay Ireland $14.5 billion in back taxes. The statement is attributable to Elizabeth Hyman, Executive Vice President, Public Advocacy, CompTIA.
"Tuesday's decision by the European Commission undermines the notion of fairness and multilateral cooperation on tax policy. It creates an unwelcome climate of business uncertainty for companies doing business in the EU. U.S. companies invest directly in Europe and a decision such as this could impact such investment choices, as well as place a pall over general trade relations. For example, in 2015 the U.S. tech industry exported more than $47 billion in manufactured technology goods and services to the EU. Technology is the engine that powers national, regional and global economies, and provides employment for hundreds of millions of people around the world. But today's decision will make doing business in the EU very challenging and has the very real potential to spawn negative repercussions on international trade and taxation."