Apple to Start Paying Ireland €13 Billion Tax Bill in March

Apple to Start Paying Ireland €13 Billion Tax Bill in March

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Apple will reportedly pay Ireland €13 billion in back taxes from March to September. The funds will be held in escrow until the company's dispute with the EU is settled, notes CultofMac.

Ireland's Department of Finance Secretary General Derek Moran provided details about the payment in a letter to the Public Accounts Committee.

"Given the scale and the bespoke nature of the establishment of the recovery process at this stage it is not possible to provide a definite date for the completion of the collection of the alleged aid," said Moran. "However, identification of the escrow agent/custodian by the end of March 2018 will then allow for a payment into the escrow fund account, with payments continuing through the course of April, May and June and up to the end of September 2018."

In August of 2016, the European Commission ruled that Ireland granted illegal tax benefits to Apple and must recover the unpaid taxes from Apple for the years 2003 to 2014 of up to €13 billion, plus interest.

Apple CEO Tim Cook says that European Commission is ignoring Ireland's tax laws and upending the international tax system in the process. "It is effectively proposing to replace Irish tax laws with a view of what the Commission thinks the law should have been."

Both Ireland and Apple are fighting the decision by the EU.

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Apple to Start Paying Ireland €13 Billion Tax Bill in March

drigo marki - January 18, 2018 at 4:27pm
Well, maybe they should bring business back to USA if taxes are lower, if not then they should just keep paying and stay there. Doesn't take a genius to figure that out.
SayingWhatEveryonesThinking - January 18, 2018 at 3:39pm