Apple Inc. may soon pay a large fine. It was accused of illegally receiving support and tax violations in Ireland, according to Euronews.
According to some sources close to the dossier, Dublin provided a very favorable tax conditions to Apple in exchange for an increase of new jobs in country. Corporation pays only 2% of the revenue, instead of legal 12.5%. Thus, the manufacturer of "apple" products have saved at least $19 billion. Head of the American company, Tim Cook is preparing to introduce a new, seventh model of iPhone next week. He hopes for a "fair" decision from the European Commission.
However, in the second half of the day, Apple's stock fell sharply due to the European Commission requirements. Now "apple" giant is obliged to return Ireland unpaid taxes. iPhone stocks decreased by 2.4% with turnover by 158 thousand of securities. Company denies any wrongdoing and is going file an appeal to the court.