One year later, Apple agrees to pay Ireland $15B in back taxes

Ivan Schwartz
December 6, 2017

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.

Irish Finance Minister Paschal Donohoe told reporters that the Government has "now reached an agreement with Apple in relation to the principles and operation of the escrow fund".

In October, the Commission referred Ireland to the EU Court of Justice for its failure to do so.

The Commission ordered Ireland to collect back taxes for the years 2003-2014, which it estimated to be as much as €13bn plus interest.

Disney, Fox Close to $60 Billion Merger Deal
The Company's segments include Cable Network Programming; Television; Filmed Entertainment, and Other, Corporate and Eliminations. Piper Jaffray Companies reissued a "buy" rating on shares of Twenty-First Century Fox in a report on Tuesday, September 26th.

The Republican Tax Bill Is Speeding Towards Passing the Senate
Another change would put a five-year limit on letting businesses immediately write off the full value of new capital investments. A House-Senate conference committee will be named to work out the differences , a process that could require hard choices.

Latest iOS 11 Privacy & Security Settings
If this is not done than the update might end up causing more problems than it is created to solve. There's no news yet on when Apple Pay Cash will become available in the United States.

Apple, whose CEO Tim Cook likes to talk a big game about how the tech industry should be more socially responsible while overseeing an worldwide tax-avoidance regime that puts Scrooge McDuck's gold-filled vault/swimming pool to shame, has agreed to repay Ireland €13 billion ($20 billion) in unpaid taxes, the Wall Street Journal reported.

"We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated", Apple said in a statement. "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.

Both Apple and Ireland will still appeal the ruling despite Apple agreeing to make a payment.

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". "We remain confident the General Court of the European Union will overturn the Commission's decision once it has reviewed all the evidence".

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER