Apple is set to record a U.S. foreign tax credit of $4.8bn, which will help mitigate the impact of a €13bn ($14.2bn) tax obligation to Ireland following a recent EU court ruling. The total amount owed to Ireland is $15.8bn, but this will be reduced by the foreign tax credit and a decrease of $823m in Apple’s unrecognized tax benefits, as stated in the company’s annual report filed on November 1st.
Apple’s tax credit eases €13bn bill
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