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EU tax avoidance action could hurt foreign investment -U.S. Treasury

Reuters - UK Focus

WASHINGTON, Aug 30 (Reuters) - The actions of European regulators could hurt foreign investment, the U.S (Other OTC: UBGXF - news) . Treasury said on Tuesday after the European Commission ruled Apple (NasdaqGS: AAPL - news) must pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government.

"The Commission's actions could threaten to undermine foreign investment, the business climate in Europe, and the important spirit of economic partnership between the U.S. and the EU," a Treasury spokesperson said on Tuesday. (Reporting by Jason Lange; Editing by Chizu Nomiyama)