Published: Wed, December 06, 2017
Finance | By Gustavo Carr

Apple finally giving Caesar he's due to the tune of $15 billion

Apple finally giving Caesar he's due to the tune of $15 billion

The European Commission ruled a year ago that a tax deal that Ireland gave Apple was illegal, and that it owed the country $14.5 billion in back taxes.

After a year passed without Ireland moving to recover the money, the EU referred the country to the bloc's highest court, the European Court of Justice.

In fact, the European Commission had ordered the government of Ireland to collect the "back taxes" only after concluding that two Irish tax coding permitted by Apple, that is to pay less tax than other businesses.

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Both are continuing to appeal the decision and the money will sit in an escrow fund while they do so. He added that the Government expects that "the money will begin to be transmitted into the account from Apple across the first quarter of next year". The unfair advantage resulted in Apple avoiding as much as 13 billion euros in payments over the course of more than a decade.

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But Apple executives later told Reuters that it plans to appeal the ruling at Europe's second-highest court, saying the company had been targeted because of its success.

The money is going to start being paid in early 2018, but in a statement, Apple said it remained confident that the General Court of the European Union will "overturn the Commission's decision once it has reviewed all the evidence".

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

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.

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