Government reaches agreement on €13bn Apple tax account

06 December, 2017, 00:52 | Author: Valerie Burke
  • Apple will repay billions in owed taxes to Ireland

Ireland has said that negotiating the terms of that fund is what has held up its collection of the money, but the European Commission said that the action it has taken against Ireland for failing to follow the 2016 ruling will proceed until the money is collected in full. 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.

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.

"We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year", he added before a meeting with the EU's Competition Commissioner Margrethe Vestager.

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While the appeals are still ongoing, the European Commission ordered Ireland to begin collecting Apple's taxes on January 3, and the organization referred Ireland to the EU Court in October for failing to comply with the deadline.

As no money has been recovered to date, the European Commission itself referred Ireland to the ECJ in October for failing to recover what it found to be "illegal aid" to Apple. However, Dublin as well as Apple continue to contest the European Commission's ruling.

"The Commission's case against Ireland has never been about how much Apple pays in taxes, it's about which government gets the money". The Cupertino, Calif. -based tech company said in a statement that it remains confident the court will overturn the ruling once evidence has been reviewed. The ruling obliges Apple to pay back €13bn.

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