JP Morgan, an investment banker for Apple, has said that the worst-case outcome of a long-running European Commission investigation into the legality of Apple’s European tax arrangements could be a back-tax bill of $19B. It had previously been estimated that the bill might amount to $8B.
The estimate was made as the US Treasury Department warned the European Commission about taking action against US companies over tax avoidance allegations, reports the BBC …
Filed under: Apple
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