Apple agrees to pay Ireland €13bn in back taxes after European Union challenge

Escrow you, Apple! Ireland expects Cupertino to cough up to €13bn

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.

Speaking in Brussels, Irish finance minister Paschal Donohoe said: "We have now reached agreement with Apple in relation to the principles and operation of the escrow fund".

While the appeals are still ongoing, the European Commission ordered Ireland to begin collecting Apple's taxes on January 3, and the organization referred Ireland to the EU Court in October for failing to comply with the deadline.

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In August in 2016, the European Commission (EC) ordered Apple to pay as much as $14.5 billion in taxes and interest after ruling that a deal with the Irish government illegally granted undue tax benefits to the iPhone vendor.




Apple filed an appeal against the Commission's ruling in December 2016, and the company accused outspoken EU Competition Commissioner Margrethe Vestager of using Apple as a "convenient target" to make headlines.

While both have appealed the decision, the money Apple owes will be put in escrow while everything is being hashed out - but it will start being paid.

European Commissioner Margerthe Vestager ruled that Apple was receiving illegal state aid from 2003 to 2014.

Both Apple and Ireland are continuing to fight the ruling - Ireland has said that the European Union overstepped its authority and got some of the country's laws wrong while Apple has maintained that the amount it's being told to repay was miscalculated. The Government has denied favouring Apple and has joined the company in appealing the original ruling.

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