Apple to shift assets worth $9bn to Ireland

Revenue stands to gain tens of millions of euro in Vat as iTunes is moved from Luxembourg

16th October, 2016

Over $9 billion worth of assets will be relocated to Cork after Apple’s decision to move all the intellectual property associated with iTunes to its facility in Hollyhill outside Cork city.

Documents filed in the Company Registration Office in relation to the deal, which is being executed via a merger of Apple Distribution International and Apple Software Services. Apple Software Services was merged with the Luxembourg entity which previously controlled iTunes earlier this year....

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