Apple rul­ing’s ‘mixed im­pli­ca­tions’

China Daily (USA) - - BUSINESS -

Credit rat­ing agency Fitch said onMon­day that the Euro­pean Com­mis­sion’s Apple tax rul­ing has “mixed im­pli­ca­tions” for the Ire­land’s sov­er­eign credit pro­file. In a state­ment, Fitch said the rul­ing could re­sult in a sub­stan­tial one-off im­prove­ment to Ire­land’s fis­cal po­si­tion, but­may also add to medium-term eco­nomic un­cer­tainty and in­crease po­lit­i­cal risks. On Aug 30, the Euro­pean Com­mis­sion said Apple should pay up to 13 bil­lion eu­ros ($14.5 bil­lion) in taxes, plus in­ter­est, to the Irish gov­ern­ment, be­cause Apple’s tax ar­range­ments en­abled it to pay less than other com­pa­nies.

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