EU Wants a Bite Out of Apple: Appeals for Hefty $14.3 Billion in Back Taxes
Portfolio Pulse from Anusuya Lahiri
EU competition regulators have appealed to the bloc's highest Court to override a lower tribunal and make Apple Inc (NASDAQ:AAPL) pay a record €13 billion ($14.3 billion) in Irish back taxes. The case is part of EU antitrust chief Margrethe Vestager's campaign against sweetheart deals between multinationals and European Union states.
May 23, 2023 | 4:58 pm
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Apple faces a potential $14.3 billion payment in Irish back taxes as EU regulators appeal to the bloc's highest Court to override a lower tribunal's decision.
The appeal by EU regulators to make Apple pay $14.3 billion in Irish back taxes could have a negative short-term impact on the company's stock price. If the appeal is successful, Apple will have to pay a significant amount, which could affect its cash reserves and financial performance. This news is highly relevant to Apple and important for investors to consider, as it may influence the company's future financial health.
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