Google's European Tax Settlement Should Speed Up A Ruling On Apple's Irish Tax Case

JPMorgan's Rod Hall briefly commented in a note on Monday that Alphabet Inc GOOG recent agreement to settle a tax dispute with United Kingdom authorities should speed up a similar ongoing tax dispute between Apple Inc. AAPL and Irish tax authorities.

Alphabet's Google will pay £130 million (approximately $185 million) in back taxes and interest that covers its operations from 2005 to 2015. The company also committed to begin paying taxes on revenue it derives from UK-based advertisers.

According to Hall, tax investigation rulings appear to be "seemingly on fast-track" and a ruling on Apple's Irish tax dispute is imminent. The analyst further suggested a ruling or agreement between Apple and the Irish government is expected to occur "likely soon after the Irish elections due no later than 11th April."

Shares of Apple were trading lower by 0.26 percent at $101.16 an hour after Monday's opening bell. Shares of Alphabet were trading higher by 0.21 percent at $726.74.