Apple Pay

Apple Pay's Tough Adoption Road In Europe

The European Commission is expected to soon publish the results of its investigation into whether Apple's financial dealings with Ireland constituted a case of intentional tax avoidance. If Apple is found to be in violation, it could cost the company billions of euros in fees and back taxes, reports The Financial Times. The details to be published include evidence from bygone tax negotiations.

At issue is whether Apple used the threat of pulling jobs to apply pressure to Irish authorities to lower their corporate tax burden. The allegation against Apple is that such an application of pressure is tantamount to illegal state aid that could give the iPhone maker an advantage over its rivals.

"It’s very important that people understand that there was no special deal that we cut with Ireland. We simply followed the laws in the country over the 35 years that we have been in Ireland," said Luca Maestri, Apple’s finance chief, reports the Financial Times. Ireland also denies any wrong doing in the matter.

Ireland further contends that the commission is retroactively apply standards that did not exist at the time of Ireland's negotiations with Apple (which were all totally above board anyway, according to Irish authorities).

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About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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