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Apple To Pay Irish State Aid Bill From 2018

Apple To Pay Irish State Aid Bill From 2018

Previous year the EC said that tax benefits received by the company in Ireland were in fact illegal under European Union law, and ordered that an outstanding €13bn ($15.3bn) tax bill be settled.

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.

However, last year, the Commission came to the ruling that this is an example of illegal state aid and threatened Apple with harsh consequences if it didn't cough up $13 billion in owed taxes. The unfair advantage resulted in Apple avoiding as much as 13 billion euros in payments over the course of more than a decade. The government of Ireland had said in a statement on Monday that, "an agreement had been reached in relation to the framework of the principles that will govern the escrow arrangements".




Finance Minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager on Monday that Ireland and Apple had reached an agreement to "the principles and operation of the escrow fund" into which the USA iPhone maker was expected to pay the money.

So the Commission referred the Irish government to the European Court of Justice in October due to Ireland's non-compliance with the 2016 ruling. The deal had allowed Apple to pay an effective corporate tax rate of one percent on its European profits in 2003, down to as low as 0.005 percent in certain years, according to Vestager.

In a statement, Apple said that it remains confident the court will overturn the commission's decision once it has reviewed the evidence.


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