News Worms
News Worms


Ireland to finally start reclaiming Apple back taxes

Ireland to finally start reclaiming Apple back taxes

Apple is just one of many technology companies whose tax arrangements in Europe have been criticized.

Starting next year, will have to start paying Ireland back billions of back taxes.

The $15,4 billion will start flowing into Irish coffers in Q1 2018, but Apple continues to deny any wrongdoing.

Minister for Finance Paschal Donohoe met European Competition Commissioner Margrethe Vestager in Brussels on Monday to confirm that tendering for the management of the account - the two roles of custodians to safeguard the money, and investment managers to handle the bonds - will be completed by the end of January. Ireland is still adamant that the ruling is wrong. Dublin indicated the the collection was stalled due to negotiations over the escrow account, set to hold the dues while the decision is appealed in court.

The decision leaves me with no choice but to seek Cabinet approval to appeal the decision before the European Courts. It's unknown how long this process will take, though.

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.

Corporate tax evasion seriously undermines civil society and has become an increasing focus of the European Union, so it is good to see Apple finally paying up, even if they still plan to claw it back later.

KitGuru Says: Apple may start setting the money for this aside soon, but it seems clear that it still wants to get out of it.

"The United States government and the Irish government both agree we've paid our taxes according to the law".

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