Ireland makes deal to collect $20B in back taxes from Apple

Apple agrees to pay over $15 billion to Ireland in back taxes ars_ab.settitle(1227183);

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.

Apple filed an appeal against the Commission's ruling in December 2016, and the company accused outspoken EU Competition Commissioner Margrethe Vestager of using Apple as a "convenient target" to make headlines. The figure is reportedly 40 times bigger than any previous demand under European Union rules prohibiting countries from helping companies gain advantages over their competitors.

In August 2016, Vestager said the tax deal struck between Apple and Ireland for the period 2003 to 2014 was illegal state aid.

Apple may or may not be losing its tax advantage in Ireland, but the company has apparently been exploring other options for tax havens in Europe.




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".

"The Commission's case against Ireland has never been about how much Apple pays in taxes, it's about which government gets the money", Apple said in a statement.

Irish Finance Minister Paschal Donohoe said he expected the repayments to begin in the first quarter of 2018, according to the Journal, once terms were hashed out over who would operate the account and manage the fund.

Apple believes that the ruling will be overturned in time and that it's acted in accordance with the law.

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