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emfizz.com December 14, 2017


Ireland to collect $15B in back taxes from Apple

06 December 2017, 12:51 | Jan Cross

Apple agrees to cough up $15m in Irish back taxes

Apple agrees to cough up $15m in Irish back taxes

Apple is just one of many technology companies whose tax arrangements in Europe have been criticized.

Apple has made a string of investments in the country over the last few years, and the Irish Government fears that the tax bill will affect jobs. Since then though, it seems that Apple has reached an agreement with Ireland to pay back €13 billion in back taxes.

"We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year".

Earlier this month, Irish Prime Minister Leo Varadkar said that he did not "want to be in a situation where the Irish Government has to take Apple to court because the European Commission is taking the Irish Government to court". "Until the illegal aid is recovered, [Apple] continues to benefit from an illegal advantage, which is why recovery must happen as quickly as possible", the Commission said in a statement at the time.

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Ireland has struck a deal with Apple to collect up to €13bn (£11.45bn, $15bn) in back taxes and hold it in an escrow account, pending an appeal before the Court of Justice of the European Union. The Cupertino, Calif. -based tech company said in a statement that it remains confident the court will overturn the ruling once evidence has been reviewed.

While in Brussels to "update" Vestager on the agreement, Donohoe said Ireland was still contesting the Commission's ruling, but would be "complying with our obligations in terms of collecting the money from Apple".

Both Apple and the Irish government have appealed the ruling, but the position in the meantime is that the amount must be collected.



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