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Apple agrees to cough up for $15 billion Irish tax bill
06 December 2017, 12:52 | Gordon Grant
Apple Begrudgingly Agrees To Pay Ireland $20 Billion In Back Taxes
More than a year after an European Union deadline for Ireland to recover €13 billion ($15.4 billion) in back taxes from Apple, Dublin has finally agreed to start recovering the money.
With Apple's appeal still in process, the tax payments will be made into an escrow account.
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 government have come to an agreement with Apple for the contested €13 billion tax bill that the company was ordered to pay Ireland.
"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. "Until the illegal aid is recovered, [Apple] continues to benefit from an illegal advantage, which is why recovery must happen as quickly as possible", the Commission said in a statement at the time.
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