Jack Lew Fails to Squelch European Commission Tax Ruling And "Multi Billions" EUR Fine Against Apple

``A 130-page judgment by the commission follows a three-year investigation into claims that two advance tax opinions issued by Dublin violated EU law by granting Apple an advantage not available to other companies... One person familiar with the inquiry said Apple will have to restate its accounts as a result of the ruling. Investigators have examined how Apple paid a tax rate of less than 1 per cent on European sales -- far lower than Ireland's headline 12.5 per cent tax rate on business profits.''