Ireland to start collecting $15 billion in tax from Apple

Ireland to start collecting $15 billion in tax from Apple

LONDON (AP) - Ireland has struck a deal with Apple to collect up to 13 billion euros ($15 billion) in back taxes and hold it in an escrow account pending an appeal before the Court of Justice of the European Union.

The government said in a statement Monday that an agreement had been reached "in relation to the framework of the principles that will govern the escrow arrangements."

The European Commission had ordered Ireland to collect the money after concluding that two Irish tax rulings allowed Apple to pay less tax than other businesses - thus giving them an unfair advantage. The Commission ordered Ireland to collect back taxes for the years 2003-2014, which it estimated to be as much 13 billion euros plus interest.

Ireland disagreed with the Commission's analysis and appealed the decision.

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

"The Commission's case against Ireland has never been about how much Apple pays in taxes, it's about which government gets the money," Apple said in a statement. "The United States government and the Irish government both agree we've paid our taxes according to the law."

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Ireland to start collecting $15 billion in tax from AppleMore>>

  • Science & technology news

    Science & technology news

    Pokemon Go is the latest game to take the science and technology world by storm. Click for news on cybercrime, space, social media, computers and technological advances that change our lives daily.

    More >>

    Pokemon Go is the latest game to take the science and technology world by storm. Click for news on cybercrime, space, social media, computers and technological advances that change our lives daily.

    More >>
  • Apple vs. the FBIMore>>

  • Apple has its investment shoes on this week

    Apple has its investment shoes on this week

    Wednesday, December 13 2017 8:34 AM EST2017-12-13 13:34:31 GMT
    Thursday, December 14 2017 8:00 AM EST2017-12-14 13:00:48 GMT
    Apple says it's investing $390 million in Finisar, which makes lasers used in facial recognition. The funds will help to create more than 500 jobs.More >>
    Apple says it's investing $390 million in Finisar, which makes lasers used in facial recognition. The funds will help to create more than 500 jobs.More >>
  • Apple orchestrates deal for song-recognition app Shazam

    Apple orchestrates deal for song-recognition app Shazam

    Monday, December 11 2017 1:53 PM EST2017-12-11 18:53:23 GMT
    Wednesday, December 13 2017 11:21 AM EST2017-12-13 16:21:09 GMT
    Apple has bought Shazam, the maker of a song-recognition app that Apple's digital assistant Siri has already been using to help people identify the music playing on their iPhones.More >>
    Apple has bought Shazam, the maker of a song-recognition app that Apple's digital assistant Siri has already been using to help people identify the music playing on their iPhones.More >>
  • Apple CEO hopeful banned apps will return to China store

    Apple CEO hopeful banned apps will return to China store

    Wednesday, December 6 2017 5:10 AM EST2017-12-06 10:10:20 GMT
    Wednesday, December 6 2017 9:30 AM EST2017-12-06 14:30:28 GMT
    Apple's chief executive says he's optimistic some apps that fell afoul of China's tight internet laws will eventually be restored after they were removed earlier this year.More >>
    Apple's chief executive says he's optimistic some apps that fell afoul of China's tight internet laws will eventually be restored after they were removed earlier this year.More >>
Powered by Frankly
All content © Copyright 2000 - 2017 Raycom Media. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.