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Ireland, Apple tax appeal gets timeframe

Published 04/24/2018, 10:16 AM
© Reuters.  Ireland, Apple tax appeal gets timeframe
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  • Ireland says its appeal with Apple (NASDAQ:AAPL) against an EU ruling for $16B in disputed taxes will happen in the autumn.
  • The European Commission ruled in 2016 that Ireland offered Apple unfair tax advantages and ordered the money repaid. The commission later threatened Ireland for taking too long to collect the money. Ireland was nervous to do so without an escrow in place to remove liability if the funds lose value during the appeal process.
  • Apple and Ireland are appealing the original ruling, claiming the tax treatment was in-line with local and EU laws.
  • Apple is due to begin its payments into the escrow account in Q2 with payments completed by Q3.
  • Apple shares are down 0.1% to $165.02.
  • Previously: Ireland chooses managers for Apple taxes; Tim Cook heading to China (March 23)
  • Now read: Apple Doesn't Make Sense For Dividend Growth Investors


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