tax

Apple Set to Appeal $14 Billion EU Tax Ruling in Ireland

Apple will this week file its appeal of a European Commission decision that it owes Ireland billions in back taxes, while the latter’s Department of Finance has revealed details of its own appeal, according to a report from Reuters. Margrethe Vestager, the European Commissioner for Competition, said on August 30 that Apple must pay up to […]

China Threatens iPhone Sales Should Trump Start A Trade War

Apple and US automakers could be forced to suffer should president-elect Donald Trump decide to play hardball with China over trade. An editorial from the state-run Chinese newspaper Global Times – via The Guardian– included a thinly veiled threat of repercussions if the incoming 45th president of the United States follows through on his threat […]

Apple May Be Able To Retrieve Overseas Cash Under Trump Tax Plan

Apple and many other technology companies could gain from President-elect Donald Trump‘s support of a one-time repatriation of U.S. companies’ corporate profits held overseas, but only if the idea get enacted by a still-Republican-held Congress, according to a report from the Financial Times. Trump has proposed a 10% repatriation tax on profits of US corporate […]

Apple May Send “Billions” of Offshore Cash Back Home in 2017: Cook

In the wake of the CAD$18.9 billion tax bill, Apple CEO Tim Cook says the company could repatriate at least some of the $215 billion cash pile it has offshore, reports the Wall Street Journal. Speaking with Irish media today, Cook called the EU Commission's ruling "political crap" and "disappointing". He also couldn't understand where the 0.005%...

EU Decision to Tax Apple Billions Coming This Week: Report

The European competition authorities are expected to issue a ruling on Apple's Irish tax arrangement as soon as the second half of this week. Meanwhile, the Irish government is preparing for a fight with the EU to defend its international reputation, reports Bloomberg. You may recall that the EU competition authorities found that Apple's tax...

Nobel Economist Claims Apple Tax Practices in Ireland Are Fraudulent

US laws allowing Apple to hold the majority of its cash pile abroad are “obviously deficient,” says Nobel economist Joseph Stiglitz in an interview with Bloomberg, adding that Apple’s attribution of significant earnings to a relatively small overseas unit is “fraud”. “Our current tax system encourages companies to keep their money abroad, opens up a...

No Imminent Ruling in Apple Tax Case, Says EU Competition Chief

The ruling on Apple’s tax affairs in Ireland was originally expected last Christmas, but was postponed. Today however, Bloomberg has posted on the European Commission’s probe on their tax affairs, citing EU competition chief Margrethe Vestager and suggesting that it won’t come anytime soon. “Don’t hold your breath,” she told reporters in Brussels on Monday […]

Apple May Face Hefty $8 Billion Tax Bill in Europe: Bloomberg

Apple may owe more than $8 billion in back taxes, according to a Bloomberg analysis published today. You may already know that Apple's tax policies are under the loop of the European Commission, which is expected to issue a ruling soon. The European Commission launched an investigation back in 2014, claiming that Apple's arrangement with Ireland...

EU Commission Extends Probe Against Apple in Ireland: FT

There will be no verdict on Apple’s tax affairs, as The European Commission has extended its probe into Ireland’s alleged tax deal with the iPhone maker, reports the Financial Times. Earlier this fall, Ireland’s Finance Minister Michael Noonan suggested that the EU Commission could issue a ruling on the matter around Christmas. That’s not what...

EU Commission to Officially Investigate Apple’s Irish Tax Deal

The European Commission will officially look into Apple’s tax arrangements with Ireland, the Irish state broadcaster RTE has learned. The official announcement is expected to be made tomorrow. It comes after Apple spent the majority of 2013 in the hot seat over its tax practices and closed that chapter thanks to an SEC investigation in...