Apple just agreed to give almost 6% of its cash pile to Ireland
https://qz.com/1146801/apple-aapl-just-agreed-to-give-almost-6-of-its-cash-pile-to-ireland/
Apple reached an agreement with the European Union today (Nov. 5) to begin paying €13 billion ($15.46 billion) to the Irish government. That’s 5.9% of the tech giant’s total cash pile as of August 2017, when it reported reserves of $261.5 billion.
The agreement suggests that the European Union is slowly winning a long dispute it has held with Apple and Ireland. Since the early nineties, Apple has enjoyed an agreement with Ireland that requires it to pay tax rates as low as 0.005%, which originated as part of Ireland’s attempt to spur foreign investment.
Apple just agreed to give almost 6% of its cash pile to Ireland
Dec 5, 2017, 4:12am UTC
https://qz.com/1146801/apple-aapl-just-agreed-to-give-almost-6-of-its-cash-pile-to-ireland/
>Apple reached an agreement with the European Union today (Nov. 5) to begin paying €13 billion ($15.46 billion) to the Irish government. That’s 5.9% of the tech giant’s total cash pile as of August 2017, when it reported reserves of $261.5 billion.
>The agreement suggests that the European Union is slowly winning a long dispute it has held with Apple and Ireland. Since the early nineties, Apple has enjoyed an agreement with Ireland that requires it to pay tax rates as low as 0.005%, which originated as part of Ireland’s attempt to spur foreign investment.