Apple To Pay Irish State Aid Bill From 2018

EU’s competition chief Margrethe Vestager who found Apple guilty of receiving illegal state aid

The EU, therefore, demanded Ireland collect tax at a more normal rate, and when Ireland refused in 2016 referred them to the European Court of Justice.

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

Last year, the European Commission ruled that Apple should have to pay £11 billion in back taxes after the company funneled money through Ireland to avoid paying larger taxes on profits made throughout Europe. The unfair advantage resulted in Apple avoiding as much as 13 billion euros in payments over the course of more than a decade.

Irish Finance Minister Paschal Donohoe told reporters that the Government has "now reached an agreement with Apple in relation to the principles and operation of the escrow fund".

Cyclone Ockhi: 71 from Tamil Nadu among 357 fishers rescued
He said he saw several bodies floating by when he was in mid sea. "It was a nightmare", said a rescued fisherman. Till date, the havoc wreaked by the cyclone claimed 25 lives in Kerala, including 12 on Sunday.

Both Apple and the Irish government have appealed the ruling, but the position in the meantime is that the amount must be collected.

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. The Cupertino, Calif. -based tech company said in a statement that it remains confident the court will overturn the ruling once evidence has been reviewed.

"We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated", the iPhone vendor said in a statement to the Journal.

Apple insists it did nothing wrong and that eventually, its Irish treasure horde will be returned to Cook and crew.

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