International tax policies should be better coordinated among countries to avoid problems, President Barack Obama said on Monday, following the European Union decision that would require Apple Inc. to pay billions of dollars in back taxes.
"It's in the interest of all countries, whether they're developed countries or developing countries, to put a stop to this," Obama told reporters at the close of the G-20 summit in Hangzhou, China. He was speaking for the first time about the decision that could cost Apple, a U.S.-based company, as much as 13 billion euros ($14.5 billion).
Obama said he didn't bring up the Apple case specifically in talks with other leaders at the G-20 summit, noting he typically doesn't take individual companies' issues to that forum.
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