Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: jlallen who wrote (958956)	8/24/2016 5:02:02 PM
From: Bonefish	1 Recommendation Recommended By Old Boothby Read Replies (1) of 1579527

Apple could be on the hook for $19 billion in taxes, and the Obama administration is livid businessinsider.com The European Commission is expected to levy a judgment against Apple in the next few months that could total in the billions of euros. JPMorgan has estimated that Apple could be on the hook for as much as $19 billion — or about 17 billion euros — the Financial Times reports. The commission is accusing Apple of striking a sweetheart tax deal with Ireland, in which the iPhone maker would move its profits to wholly owned Irish subsidiaries to reduce its corporate taxes. Apple has one major defender in its corner, though: the US Treasury Department and, by extension, the Obama administration.

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