Ireland to finally start reclaiming Apple back taxes

Ireland to finally start reclaiming Apple back taxes

Apple will start paying back some €13 billion in back taxes to Ireland in 2018.

As a result of both parties contesting the ruling, the matter is now awaiting a European Court of Justice decision, and the money will be paid into the escrow account in the interim.

"We have now reached agreement with Apple in relation to the principles and operation of the escrow fund", Finance Minister Paschal Donohoe said in Brussels in quotes confirmed to AFP by Ireland's finance ministry.

American tech firm Apple has confirmed that it's to comply with a ruling from the European Commission and pay Ireland billions owed in taxes. While one might wonder why the Irish government might turn up its nose at $20 billion, by offering annual tax rates as low as 0.005 per cent for over a decade, Ireland essentially acted as a tax haven - a status it has used to attract investment and presence by worldwide corporations.

Having long disputed the ruling and failing to collect the tax, the case was sent to the European Court of Justice.


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.

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.

Apple has denied any wrongdoing and has also said that it received no "special deal".

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.

Related:

  • Shashi Kapoor: The child star who directed a Russian film

    Shashi Kapoor: The child star who directed a Russian film

    Vice-president M Venkaiah Naidu said Kapoor will be remembered for the memorable roles he played in a number of films. He went on to immortalize characters like Prem Sagar in The Householder and Sanju in Shakespeare-Wallah respectively.
    LaVar Ball Removes LiAngelo from UCLA

    LaVar Ball Removes LiAngelo from UCLA

    According to ESPN , Riley, Hill and LiAngelo Ball were subject to review for possible violations to UCLA's Student Conduct Code. LaVar Ball is taking the reins on his suspended son's basketball future.
    Mitch McConnell Says Republicans Have The Votes To Pass Tax Bill

    Mitch McConnell Says Republicans Have The Votes To Pass Tax Bill

    Senate leaders both declared the report junk and claimed it vindicates their claim that the tax bill will pay for itself. Trump and other Republicans insist that the corporate tax rate must be reduced from 35 percent to 20 percent.
  • Here's what an 8-team College Football Playoff would have looked like

    Here's what an 8-team College Football Playoff would have looked like

    Last year , Ohio State was involved in a bit of a controversy again when it didn't win its conference but got in. And the Tide's inclusion also means its the first time the playoff has taken two teams from the same conference.
    Windsor's unemployment rate drops for November

    Windsor's unemployment rate drops for November

    Canada's unemployment rate sank to the 5.9 per cent in November from 6.3 per cent in October, thanks to 79,500 new jobs. Nearly 4,000 new jobs were created in the London area in November, but there was no change in the unemployment rate.
    Missing Florida teen spotted in NC found safe in NY

    Missing Florida teen spotted in NC found safe in NY

    Police asked the public to keep an eye out for the red Mercury Sable, while her mother issued a plea for the teen to return home. The Post-Standard reports police are holding Rian Rodriguez on a charge from Florida known as interference with child custody.
  • Warm Tuesday, but wet snow possible late this week

    Warm Tuesday, but wet snow possible late this week

    Dale said there's no significant snowfall in the forecast but there is a chance for some snow showers Tuesday evening. Tuesday night should be mild and breezy as the rain will continue with the cold front crossing the region.
    Giancarlo Stanton rumors: Marlins have trade framework in place with Giants, Cards

    Giancarlo Stanton rumors: Marlins have trade framework in place with Giants, Cards

    Time and time again it has been reported that Giancarlo Stanton's top choice for his next team is the Los Angeles Dodgers . The Dodgers are enamored with Stanton's power, but are concerned about the luxury-tax implications of trading for him.
    Jak and Daxter PS2 Classics coming to the PS4 on December 6th

    Jak and Daxter PS2 Classics coming to the PS4 on December 6th

    Together, the entirety of Naughty Dog's Jak and Daxter installments will be playable on the current Sony platform. Back in April, we learned that Jak and Daxter were set to make their return in the form of PS2 Classics on PSN.
  • Microsoft highlights the benefits of Windows 10 on ARM

    Microsoft highlights the benefits of Windows 10 on ARM

    The HP Envy x2 will be available in spring next year, while no timeframe has been shared for the ASUS NovaGo yet. The device runs Windows 10 S out of the box, you will however able to upgrade to Windows 10 Pro.
    Man City's late wins can be deflating to title rivals - Vincent Kompany

    Man City's late wins can be deflating to title rivals - Vincent Kompany

    Last season he destroyed us here. "It's not my business right now, it's for Txiki", said Pep . But we believe in the players who don't play regularly, like Bernardo, Gundogan, Danilo.
    Trump alters story on why he fired Flynn

    Trump alters story on why he fired Flynn

    Earlier in February, former FBI director James Comey said that Trump asked him to stop the investigation into Flynn. The White House has denied that the conversation occurred as Comey described.

Comments

Latest news

Mueller's Russian Federation probe has cost millions - DOJ
Mueller is investigating alleged Russian attempts to influence the election, and potential collusion by Trump aides. Deutsche Bank spokesman Chalie Olivier told Newsweek the bank declined to comment on the matter.

Voyager 1 fires thrusters last used in 1980 - and they worked!
Voyager 1 will switch back to its other thrusters once the probe no longer has enough power for the heaters, officials said. These are located on the back of the spacecraft and are identical to the thrusters that they've used so far.

Woman sues Bill O'Reilly and Fox for defamation over sex harassment
In Monday's complaint, Bernstein's lawyer's said she did not discuss her settlements with the Times . The New York Times first reported on Bernstein's settlement with O'Reilly earlier this year.

Yemen ex-president Ali Abdullah Saleh killed by rebel forces
The fighting that led to Saleh's death also apparently allowed the Houthis gain control of the majority of Yemen's capital Sanaa. Reports in Iranian media and Al Jazeera, based in Qatar, also claimed that the leader had been killed.

Girl's body found; mom's boyfriend charged with hiding death
The toddler, who was reported missing on November 27, was found dead on Saturday near her Jacksonville , North Carolina home. Daniel Bober, investigator Vincent Hill, syndicated radio talk host Dave Mack, and child advocate lawyer Ashley Willcott.

Android Gains Safe Browsing Features To Out Apps Collecting Data Without Permission
The company did not say whether the new policy of privacy violation warnings will apply to its own software as well. Users will be warned through Google's safe browsing feature about apps that collect personal data without consent.

Washington Huskies to face Penn State Nittany Lions in Fiesta Bowl
Mike will have one final game in which he will represent Penn State University on Saturday, December 30 at 4 p.m. Penn State will compete in the Fiesta Bowl in Glendale, Arizona against Pac-12 opponent Washington University.

A date bug in iOS 11 might crash your iPhone today
The new iOS 11.2 update is there for the eligible devices and the update is rolled out over-the-air in the settings app. The bug was reported soon by the officials and the new update was soon released after realizing the issue.

Time for US Military Families to Leave S. Korea: Sen. Lindsey Graham
But it is the stealth fighters that experts say pose the biggest threat to Pyongyang. But it also put up bravado over the presence of the F-22s and F-35s.

Selena Gomez Explains Why She Takes So Many Breaks From Instagram
She then paid tribute to those who had come before her. "I don't have ideal abs, but I feel like I'm wonderfully made", she said. Speaking about Raisa , Gomez said: "I think Francia should be getting this award". "My kidneys were just done".

Aaron Boone Walks into Perfect Job as Next New York Yankees Manager
According to George King of the NY Daily News - Meulens and Boone are the favorites and Beltran has an outside shot. I don't want to speak for him, but I don't think he has any interest in that position ".

India's Infosys taps Capgemini exec Parekh as CEO
He was also the company's Chairman of the North America Executive Council. His departure will be effective on January 1, the statement said.

Jimbo Fisher to take Texas A&M job
The Seminoles were ranked third in the AP preseason poll but lost quarterback Deondre Francois in the opener against Alabama . Florida State (5-6) faces Louisiana-Monroe on Saturday and needs a win to be bowl eligible for a 36th consecutive season.

Missing North Carolina girl presumed dead, authorities say
Federal Bureau of Investigation officials said in a release Saturday that they have evidence to believe Mariah is deceased. Woods' mother, Kristy Woods, told WITN-TV in Greenville that she last saw her daughter at about 11 p.m.

2017 supermoon rises this weekend
Rare sighting of the first and last supermoon of the year will be observed today all over the world including Pakistan. This year's supermoon will be visible Sunday evening and will reach its peak around 2:45 a.m. (CST) Monday morning.

Other news