Apple to shareholders: order to pay back $14.5bn in taxes ‘will be overturned’

iPhone maker tells shareholders it doesn't consider the European commission's decision final and does not 'expect any near-term impact on our financial results'

Tech giant Apple told shareholders it did not consider the European commission's decision to collect $14.5bn in back taxes final on Tuesday and was "confident that it will be overturned", but analysts warned the picture was more complex.

In a note posted to the company's investor relations page, the company said it did "not expect any near-term impact on our financial results" and that it was prepared to pursue the matter in court for years to come. "While we desire a resolution as soon as possible, the process is likely to take several years," the company said.