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Central bank may buy Apple bonds

International Business
Wed, 14 Sep 2016

London: The Bank of England has included Apple on a list of companies that qualify for its new economic stimulus bond-buying scheme.

This means the central bank views the company as making a “material contribution” to the British economy.

The decision will anger the Silicon Valley giant’s critics, who accuse it of avoiding tax on UK sales by routing them via Ireland.

The European Commission has attacked Ireland’s tax arrangements with Apple.

It said they allowed the iPhone maker to pay almost no tax on international sales, which amounted to illegal state aid. 

On Monday, Apple was put on a list of 100 companies that will qualify for the Bank of England’s new corporate debt purchase initiative. 

Apple does not have its headquarters in London and a proportion of its sales in the UK is legally recorded in Ireland.

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