Following a report yesterday evening that claimed Ireland could be set to close its so-called “Double Irish” tax loophole that has saved Apple billions of dollars over the past two-plus decades, the Irish government on Tuesday announced that the country would in fact be phasing out the tax breaks for companies by next year. But, the party isn’t over yet.
Apple Stores could soon begin providing service for all Beats Electronic products and accessories, including headphones and speakers, based on what appears to be an internal memo reportedly sent to authorized Apple Service Providers in Greece. The move would make sense given Apple’s recent $3 billion acquisition of Beats in May.
Reuters on Monday, citing two sources familiar with the matter, reports that Ireland is set to phase out the so-called “Double Irish” corporate tax loophole that enabled Apple, Google and other companies to save billions of dollars over the past several years. The decision comes just weeks after the European Commission launched an investigation into Ireland providing companies with illegal state aid through these tax deals.
Apple’s contracts with suppliers includes $50 million penalty for leaking information about unannounced devices
Earlier this week, Apple sapphire glass supplier GT Advanced filed for bankruptcy protection and more recently has tried to keep secret the details surrounding Apple withdrawing a final $139 million payment from the manufacturer. Now, the company is seeking to have “oppressive and burdensome” agreement with Apples considered void.