Apple Inks $15B Deal with Ireland To Clear Up Back Taxes

Violet Tucker
Декабря 6, 2017

In July, Ireland launched a procurement process for an escrow agent/custodian for an escrow account into which the funds would be placed and held until the European courts issue their final ruling on the Government's appeal.

In September 2016, a European Commission investigation concluded that two rulings provided by the Irish Government had "substantially and artificially lowered the tax paid by Apple in Ireland since 1991". The Commission ordered Ireland to collect back taxes for the years 2003-2014, which it estimated to be as much 13 billion euros plus interest.

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".

Apple's agreement on Monday has set the wheels in motion for the $14.6 billion to actually be delivered, with Irish officials saying they expected the first payments to be processed in early 2018.

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The Commission in October had routinely initiated proceedings against the Government for its failure to recover the tax, which had been ruled by the Commission as an illegal favouring of the company by the Irish authorities.

Having long disputed the ruling and failing to collect the tax, the case was sent to the European Court of Justice.

Apple also said it remained "confident" that the European Union court would "overturn the Commission's decision once it has reviewed all the evidence".

Apple also said that it is "the largest taxpayer in the world" and that it "pays every dollar it owes in every country around the world".

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