Apple to pay $20 billion in back tax to Ireland

Share

According to a top Irish official, Apple has agreed to to pay Ireland around $15.4 billion in back taxes.

It's understood that Apple will start paying the €13 billion in back taxes into an escrow account in first quarter of 2018.

The European Commission said the record sum was the result of Apple receiving unfair tax incentives from Ireland.

Both Ireland and Apple have dragged their feet on complying with the ruling. Ireland has said the money collection was held up by negotiations over the escrow account.

Microsoft Corporation (NASDAQ:MSFT) Stake Lifted by Global X Management Co. LLC
The Massachusetts-based Congress Asset Management Communications Ma has invested 0.19% in Microsoft Corporation (NASDAQ: MSFT ). The company was downgraded on Wednesday, May 24 by Standpoint Research. ( NYSE:MO ), 13 have Buy rating , 0 Sell and 6 Hold.

While you're here. Why not watch the latest JOE Show with stars of Irish comedy Nowhere Fast Alison Spittle and Clare Monnelly!

A commission spokesman said the same day: "We hope that we can work constructively with the Irish authorities to make sure that recovery is completed as soon as possible". Apple CEO Tim Cook called the it "total political crap", and both Apple and Ireland have appealed it.

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.

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

David de Gea: 'I felt unbeatable against Arsenal'
According to Give Me Sport , Alan said: "At times they were too quick, they were too sharp for Arsenal - their pace, their power". He brilliantly denied Alexis Sanchez at point blank range as United secured all three points at the Emirates.

According to the EU, the tax deal allowed Apple to pay nearly nothing in tax on its European profits between 2003 and 2014.

That blacklist should include Ireland, NGOs have said, but European Union states are to be automotically excluded from the register.

Amazon denied it owed any back tax, saying it did "not receive any special treatment from Luxembourg".

The SEC's Cyber Unit Launches Its First Fraud Case, Targeting Plexcoin's ICO
In addition to charging Lacroix, the Cyber Unit also included his partner, Sabrina Paradis-Royer, in the litigation. The regulator said this was the first case filed by its brand-new cybersecurity unit, aptly named Cyber Unit.

Share