“Apple Inc.’s bill for unpaid taxes in Ireland is creeping upwards, as authorities try to figure out exactly how much the world’s richest company owes,” Dara Doyle and Stephanie Bodoni report for Bloomberg.
“European Union competition watchdogs ordered Ireland to claw back a record 13 billion euros ($13.9 billion) plus interest in unpaid taxes from the iPhone maker last August, covering the years 2003 to 2014. Apple and Ireland have appealed the EU’s Aug. 30 decision,” Doyle and Bodoni report. “In a worst-case scenario, the interest payment could ultimately approach 1.5 billion euros, bringing the total bill close to 14.5 billion euros, according to estimates by Matt Larson, a Bloomberg Intelligence technology analyst.”
Doyle and Bodoni report, “While the Jan. 3 deadline for payment passed without the money arriving, the Irish finance ministry said the EU regulator is satisfied with progress.”
Read more in the full article here.
MacDailyNews Take: Brussels is potentially the universe’s epicenter of self-delusion.
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