Apple could be on the hook for €1 billion in interest on its Irish tax bill (AAPL) [The Business Insider]
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Source: The Business Insider
Apple could be on the hook for €1 billion in interest on its Irish tax bill In addition to paying Ireland some €13 billion in back taxes, Apple will also have to fork over another €1 billion in interest as part of its penalty for violating Europe's "state-aid" rules, the iPhone maker has disclosed in a regulatory document. Ireland is still 'computing' the tax bill the EU wants it to collect from the iPhone maker, Apple said in its annual report , which it filed with the Securities and Exchange Commission on Friday. Apple's previous estimates of the amount it would have to pay Ireland did not include any estimate for interest. The new tallies amount to about $15 billion for the recovery amount and $1.16 billion in interest. "Although Ireland is still computing the recovery amount, the company expects the amount to be in line with the European Commission’s announced recovery amount of €13 billion, plus interest of €1 billion," Apple said in the annual report. When Ireland does finalize
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