Apple Moving International iTunes Business to Ireland

Courtesy of Apple
         

Apple has confirmed earlier discussed plans to move its entire international iTunes business from Luxembourg to its European headquarters in Cork, Ireland starting Feb. 5, according to a note sent to developers this week.

The non-U.S. iTunes business consists of Apple Music and the individual stores for iTunes, iBooks and Apps. Internationally, iTunes is available in over 140 countries, while Apple Music is streaming in roughly 115 territories.

Apple announced its intentions to move its iTunes biz to Ireland in September when it transferred an estimated $9 billion of iTunes assets. At that time it also shuffled all existing developer contracts to Ireland-based Apple Distribution International.

Like Luxembourg, Ireland is known for being a low-tax haven for international businesses. Last month, both Apple and Ireland announced they would appeal a record $14 billion tax bill from the European Commission, which earlier found it had been underpaying tax on profits across the European bloc from 2003 to 2014.

Apple today is the biggest private employer in Cork, the Irish Republic's second-largest city, with a workforce exceeding 5,500. Economists estimate Apple's Cork operation pumps around $17 billion annually in salaries, tax and investment into the Irish economy.

The Associated Press contributed to this report.