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Topic: Taxes

Apple to pump $350B into US economy over next 5 years, pay record $38B in repatriation taxes [u]

01/17/2018, 01:01 pm

Looking to boost its domestic image, Apple on Wednesday announced that it expects to contribute $350 billion to the U.S. economy during the next five years, picking up some 20,000 jobs in the process. (Updated with internal letter from Tim Cook.)

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Apple forks over another $184M to UK tax authorities after 'extensive audit'

01/09/2018, 06:01 pm

The world's most valuable company now has a bit less in the bank after Apple was forced to settle up with Her Majesty's Revenue and Customs to the tune of $184 million in additional taxes.

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Apple sues group that occupied Paris store to protest company's unpaid taxes

01/04/2018, 12:01 pm

Apple has leveled a lawsuit against Attac -- the Association for the Taxation of Financial Transactions and Citizen's Action -- which ran protests at a number of French Apple stores on Dec. 2, including a brief occupation of the company's flagship Opera store in Paris.

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Apple expected to increase stock buyback, grow dividend payments as result of tax reform

12/22/2017, 10:12 am

Analysts are predicting that Apple won't change its acquisitions strategy under tax reform allowing for cash repatriation from overseas, but instead will radically expand its stock buyback program, and give shareholders a dividend increase going forward.

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Court rejects US bid to intervene in Apple's appeal of EU tax ruling

12/15/2017, 01:12 pm

The European Union's General Court has refused a U.S. government request to intervene in Apple's appeal of a 2016 European Commission ruling, which ordered Ireland to collect approximately $15.3 billion in back taxes from the company.

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India hikes import tax on cellphones, liable to hit Apple's iPhone hardest

12/15/2017, 09:12 am

The Indian government is raising import taxes on cellphones from 10 to 15 percent, which could put pressure on Apple to accelerate local iPhone manufacturing.

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Ireland says Apple to start paying $15.4B in back taxes in Q1 2018

12/04/2017, 10:12 am

Apple should finally begin paying $15.4 billion in back taxes into an escrow account in the first quarter of next year, Ireland's finance minister announced on Monday.

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Activist group occupies French Apple stores in protest of unpaid Irish taxes

12/02/2017, 05:12 pm

An activist organization staged a series of protests at French Apple stores on Saturday, calling on the company to pay the $15.5 billion in back taxes the Irish government has been ordered to collect by the European Commission.

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UK government to initiate tax crackdown on tech firms holding earnings offshore

11/22/2017, 09:11 pm

The UK Treasury on Wednesday said it will begin cracking down on large corporations that shift British earnings overseas in a bid to avoid the country's high taxes, a move that follows a wider European Union strategy seeking much the same.

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EU presses Apple for details on latest tax arrangements in wake of Paradise Papers

11/07/2017, 08:11 pm

The European Union's competition commissioner has asked Apple to update details on its tax situation, following allegations that the company relocated some operations from Ireland to Jersey to avoid higher rates.

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Apple slams story of cash hidden in Jersey to reduce taxes, calls itself 'largest taxpayer in the world'

11/06/2017, 11:11 pm

In a rare blog posting, Apple listed a series of inaccuracies in the "Paradise Papers" tax story reported by the International Consortium of Investigative Journalists, while outlining its business in Cork, Ireland; emphasizing that the company is the "largest taxpayer in the world" and repeating that it "pays every dollar it owes in every country around the world."

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Paradise Papers suggest Apple shifted holding firm to Jersey to protect $252B from taxation; Apple refutes claim [u]

11/06/2017, 05:11 pm

After a 2013 investigation into its Irish tax affairs, Apple continued to avoid paying billions of dollars in taxes by changing its structure, moving the holding firm for over $250 billion in cash reserves to the Channel Islands, this week's "Paradise Papers" leak has revealed.

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As Apple's cash hoard grows to $268 billion, Republican tax plan would make it cheaper to return funds to US

11/03/2017, 12:11 pm

Apple this week revealed that its cash position has grown to $268 billion, with the vast majority of it held overseas to avoid paying domestic taxes. But the prospect of bringing that money stateside could become more appealing if the proposed U.S. tax overhaul comes to pass.

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Detente possible between Tim Cook, Macron over Apple's future taxation in France, EU

10/10/2017, 10:10 am

More details have emerged from Apple CEO Tim Cook's meeting with French President Emmanuel Macron -- with Cook reportedly exiting the discussion aware that the earnings generated by the iPhone need to be better shared amongst EU nations, and not primarily collected by one or two countries.

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Apple's Tim Cook to talk with French President Macron on Oct. 9

10/08/2017, 07:10 pm

Apple CEO Tim Cook will meet with French President Emmanuel Macron on Monday, according to an official agenda item, marking just his second official visit to France as CEO.

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European Commission takes Ireland to court for failing to collect taxes from Apple

10/04/2017, 09:10 am

Confirming an earlier report, the European Commission on Wednesday said it will bring Ireland to the European Court of Justice for failing to collect at least $15 billion in back taxes from Apple, which were originally due Jan. 3.

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Ireland could face fine for dragging heels on back taxes from Apple

10/02/2017, 04:10 pm

The European Commission is set to penalize Ireland with a "non-compliance action" for failing to collect up to $17.6 billion in back taxes from Apple, owed after the Commission found the Irish government brokered unfair deals that constituted illegal state aid.

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Irish finance minister decries EU's demand for $15B+ in Apple back taxes, says it's not Ireland's job

08/17/2017, 09:08 am

In a German interview this week, Ireland's finance minister attacked the European Commission's ruling calling for the collection of $15 billion in back taxes (plus interest) from Apple, saying it was both unjustified and outside Ireland's responsibility.

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Apple & Ireland 'close to deal' to protect government from losses while holding $17.7B in escrow

08/11/2017, 11:08 am

Apple and the Irish government are reportedly nearing a deal that would shield the latter from losses incurred while holding up to $17.7 billion in Apple cash, including interest -- money that may be due in back taxes following a 2016 European Commission ruling.

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Ireland gearing up escrow fund, government supervision for $15.2B tax payment from Apple

07/24/2017, 12:07 pm

Nearly a year after the initial declaration, Ireland is making ready to receive a $15.2 billion tax payment from Apple, and hold it in secure escrow until appeals end.

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