Apple Agrees to Pay Italy $350 Million in Tax Deal; Stocks Fall

Discussion in 'General Trading Discussion' started by SandyM, Dec 31, 2015.

  1. SandyM

    SandyM Well-Known Member

    Apr 2014
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    Over the years Apple has been notorious for its tax maneuvers. I had been wondering how that worked overseas as well. Forbes has just posted an article that Apple has had to agree to pay $350 to Italy to cover its back taxes. The European Union is also involved in efforts to research Apple's tax situation in other countries, starting in Ireland. Forbes also reports that "Apple’s stock appeared to fall on the news, closing at 107.32, down 1.42 (1.31%)." Do you think that the EU's new resolve to "cracking down" on companies like this is here to stay? What do you think will be the effect on shareholders long term (if any)?

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