Apple Fears Losing Irish Tax Break

Apple Fears Losing Irish Tax Break
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The European Commission has been cracking down on tax loopholes of late, and one that has come in for particular scrutiny is the 1991 deal between Apple Inc. (NASDAQ:AAPL) and Ireland. It is investigating whether the agreement breaks European Union laws which prohibit state aid to companies. Both the Irish government and Apple have stated that they work in accordance with the law.

Fears for Apple’s financial results

Apple released its annual financial report this week, in which it warned investors that “if the Company’s effective tax rates were to increase, particularly in the U.S. or Ireland…the company’s operating results, cash flows and financial condition could be adversely affected.”

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