$19 billion: the ‘worst-case’ bill Apple could face in long-running European tax investigation

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$19 billion: the ‘worst-case’ bill Apple could face in long-running European tax investigation

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<p class="p1"><span class="s1">JP Morgan, an investment banker for Apple, has said that the worst-case outcome of a long-running European Commission investigation into the legality of Apple’s European <a href="https://9to5mac.com/2014/09/30/apple-ireland-tax/" target="_blank">tax arrangements[/url] could be a back-tax bill of $19B. It had <a href="https://9to5mac.com/2016/01/15/apple-irish-tax-deal-8b/" target="_blank">previously[/url] been estimated that the bill might amount to $8B.</span></p>
<p class="p1">The estimate was made as the US Treasury Department <a href="https://www.treasury.gov/resource-center/tax-policy/treaties/Documents/White-Paper-State-Aid.pdf" target="_blank">warned[/url] the European Commission about taking action against US companies over tax avoidance allegations, reports the <a href="http://www.bbc.co.uk/news/business-37179785" target="_blank">BBC[/url] …</p>
<p class="p1"> <a href="https://9to5mac.com/2016/08/25/apple-tax-investigation-cost/#more-443210" class="more-link">more…[/url]</p>
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Source: $19 billion: the ‘worst-case’ bill Apple could face in long-running European tax investigation