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Ireland set to collect $15b in tax from Apple

06 December, 2017, 00:16 | Author: Samuel Sharp
  • Ireland set to collect $15b in tax from Apple

As a result of both parties contesting the ruling, the matter is now awaiting a European Court of Justice decision, and the money will be paid into the escrow account in the interim.

Now it appears Apple and Ireland have agreed to cooperate, and pay $15.4 billion to the Irish government, all while however still continuing litigating the case. The unfair advantage resulted in Apple avoiding as much as 13 billion euros in payments over the course of more than a decade.

The BBC reports that Apple is paying the money into a so-called blocked "escrow" account and that Ireland is in the process of appealing the Commission's decision.

Speaking in Brussels, Irish finance minister Paschal Donohoe said: "We have now reached agreement with Apple in relation to the principles and operation of the escrow fund".

The European Commission ruled in 2016 that the tax arrangement was illegal under EU state aid rules, but Apple and Ireland have both appealed the order.

The EU said it planned to refer Ireland to the European Court of Justice for failing to recover the money in back taxes from Apple.

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".

Both Apple and Ireland are continuing to fight the ruling - Ireland has said that the European Union overstepped its authority and got some of the country's laws wrong while Apple has maintained that the amount it's being told to repay was miscalculated.



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