The Apple, Ireland, EU Tax Saga Continues: Here's What You Need to Know

Ireland is fighting back against the EU's ruling back in August, that Apple owes the nation some $13.5 billion in back taxes.
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Ireland is fighting back against the EU's ruling back in August, that Apple (AAPL) - Get Report  owes the nation some $13.5 billion in back taxes. In a report released Monday, Ireland says the EU misunderstood Ireland's tax laws. "Ireland does not accept the commission analysis," the Finance Ministry said in a statement. "Ireland did not give favourably tax treatment to Apple- the full amount was paid in this case and no state aid was provided. Ireland does not do deals with taxpayers." Jasper Lawler, a senior market analyst at London Capital Group, based in London, said Apple shareholders are shrugging off the saga and are instead focused on looming corporate tax cuts outlined by President-elect Donald Trump. TheStreet's Scott Gamm reports from Wall Street.