as informed in cnbc
European Union orders Ireland to recover up to $14 billion in back taxes from Apple
European Union orders Ireland to recover up to $14 billion in back taxes from Apple
In premarket trading, Apple's stock was down 1 percent.The ruling, which will be contested by Apple and the Irish government, may threaten Ireland's ability to attract investment from global companies eager to limit their tax bill on overseas earnings.The U.S. government also expressed "disappointment" at the result, which has become a touchstone for concerns about U.S. multinationals keeping foreign profits offshore.
not to mention ndtv
Fed Bets Boost Dollar, European Union Tax Bill Bites Apple â€" NDTV Profit
Fed Bets Boost Dollar, European Union Tax Bill Bites Apple â€" NDTV Profit
: US interest rate rise expectations pushed the dollar up for a seventh time in eight days on Tuesday, while Wall Street dealers braced for a bruising session for Apple after it was hit by a record $14.5 billion European tax bill.The dollar hovered at a two-and-a-half-week high against other top currencies ahead of US trading as the overarching theme of interest rate moves helped Europe's banking and industrial stocks push the FTSEurofirst 300 higher.Doubts remain about when US monetary policy will change, especially with an election in November.But both Fed Chair Janet Yellen and Vice Chair Stanley Fischer have suggested in recent days that the case for a rate increase is strengthening.Mr Fischer spoke again on Tuesday and repeated that US employment is strong and that a "one and done" rate hike cycle is not something central banks like the Fed tend to engage in.
in like manner arstechnica
US sends nastygram to European Union over alleged Apple tax dodging
US sends nastygram to European Union over alleged Apple tax dodging
Apple's battle with the European Union's competition watchdog has been backed by the US government, which on Wednesday waded into the complaint over the iPhone maker's tax arrangements.The US treasury warned in a white paper that Brussels' ongoing investigation into Apple's tax deal with Ireland could "create an unfortunate international tax policy precedent." On Thursday, the European Commission responded that there was "no bias" against US companies.After two years of investigations, antitrust chief Margrethe Vestager is expected to issue a decision on allegations of tax dodging by Apple in the autumn.
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