Tags: EU | Ireland | Apple

Apple Says Several Billion Dollars Set Aside for US Taxes

Apple Says Several Billion Dollars Set Aside for US Taxes

Thursday, 01 September 2016 05:49 AM

LONDON (AP) — Apple's chief executive says the company has put aside "several billion dollars" to pay tax liabilities in the United States as overseas earnings are repatriated.

Tim Cook told Irish state network RTE in an interview broadcast Thursday that repatriation should occur next year as profits from 2014 are repatriated.

His comments came after the European Union ordered the U.S.-based firm to pay $14.5 billion in back taxes to Ireland plus billions more in interest.

The tax dispute is part of an ongoing fight over whether America's largest global corporations pay adequate taxes throughout the world.

Apple plans to fight the EU order, which Cook characterized as unfair. He told Irish television that the EU's findings are "maddening" and that the company had not received special treatment from Irish authorities.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Apple's chief executive says the company has put aside "several billion dollars" to pay tax liabilities in the United States as overseas earnings are repatriated.Tim Cook told Irish state network RTE in an interview broadcast Thursday that repatriation should occur next...
EU,Ireland,Apple
131
2016-49-01
Thursday, 01 September 2016 05:49 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved