Ireland starts collecting back-tax from Apple

Apple will repay billions in owed taxes to Ireland

Then, Ireland disagreed with the Commission's analysis and appealed the decision.

The Government has finalised an agreement with Apple over the management of an escrow account into which its contested €13 billion tax bill will be paid.

This is a temporary account as it operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled.

Ireland's minister of finance, Mr. Paschal L. Donohoe, told reporters on Monday that he expected payments in the first quarter of 2018. The Government has denied favouring Apple and has joined the company in appealing the original ruling.

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

The European Commission estimated the amount of illegal state aid to be recovered by the Irish authorities to be around EUR13bn, plus interest.

Ireland has allowed Apple to pay lower tax rates than other EU nations since the early 1990s, but the European Commission ruled in August 2016 that Ireland's practice was illegal and that Apple must pay the rest of the money it should have been taxed.

The European Commission ordered Apple to pay the sum previous year.

Apple indicated it didn't see the arrangement as a settlement, though, and vowed to continue to fight to have the judgment overturned.

The money is going to start being paid in early 2018, but in a statement, Apple said it remained confident that the General Court of the European Union will "overturn the Commission's decision once it has reviewed all the evidence".



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