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tinyfav.com December 15, 2017


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

06 December 2017, 12:53 | Melanie Burgess

Irish euro coins beside Apple’s logo

Irish euro coins beside Apple’s logo

On Monday, the Irish government said that an agreement had been reached "in relation to the framework of the principles that will govern the escrow arrangements," so that the country can begin collecting about $15 billion in unpaid taxes from Apple as early as next year. It has taken just over a year, but Apple and Ireland have finally reached an agreement to start collecting the money and placing it into an escrow account.

The EU ruling that Ireland offered illegal state aid to Apple, and must recover €13B ($15B) in underpaid taxes, marked the end of a long-running investigation - but not the end of the dispute ...

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

We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated.

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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.

While both have appealed the decision, the money Apple owes will be put in escrow while everything is being hashed out - but it will start being paid.

However, Apple added that it remains confident that the court will overturn the commission's decision after reviewing and reading the evidence they have presented in their defense.

Both Apple and Ireland are continuing to fight the ruling - Ireland has said that the European Union overstepped its authority and got some of the country's laws wrong while Apple has maintained that the amount it's being told to repay was miscalculated.



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