Apple will help Ireland select an investment manager for the 15 billion euros ($17.9 billion) of back tax payments that will go into escrow in the country as the tech giant appeals the tax, reports Bloomberg.The appeal could take up to five years; an Apple win would return its money. Ireland is worried about being held accountable for any depreciation that occurs while the money sits in escrow and has sought an indemnity to make sure it isnt liable for any drop in the value of the fund while the case winds its way through the European Union courts. The Irish debt office says that money will be invested in low risk, fixed income securities, with the principal investment objective being to preserve capital to the extent possible in light of prevailing market conditions. Apples role in selecting the investment manager was likely a compromise to make Ireland less nervous about the situation, notes Seeking Alpha.
Källa: Apple will help Ireland select an investment manager for the back-tax brouhaha Apple World Today
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