“European authorities indicated they are open to dropping a case against Ireland for failing to collecting Apple Inc.’s tax arrears quickly enough, as the company paid over a first trance of cash,” Dara Doyle reports fro Bloomberg.
“After the government missed deadlines to collect the cash, the Commission in October referred Ireland to the European Court of Justice,” Doyle reports. “The Iphone [sic] maker has paid about 1.5 billion euros ($1.8 billion), the Finance Ministry said in Dublin on Friday.”
Doyle reports, “While Apple and Ireland appeal the EU decision, the government will hold the money in an escrow account until the process is complete.”
Read more in the full article here.
MacDailyNews Take: How magnanimous.
SEE ALSO:
Apple to fight EU Irish tax clawback without U.S. support role – May 17, 2018
Ireland, Apple appeal over EU tax clawback gets timeframe – April 24, 2018
EU says Ireland’s Apple complaint will only be dropped if it takes the full $16 billion in tax clawbacks – February 27, 2018
Ireland expects final disputed Apple bill remaining around $16 billion – February 22, 2018
EU court rejects U.S. government intervention in Apple’s Irish $15 billion tax case – December 15, 2017
EU sues Ireland over $15.3 billion tax clawback from Apple – October 4, 2017
Ireland opposes EU’s 13 billion euro Apple tax grab, calls it unjustified – August 17, 2017
Apple close to deal protecting Ireland in fight over EU tax grab – August 11, 2017
Ireland seeks custodian for Apple $15.2 billion in back taxes as collection nears – July 22, 2017
EU Commissioner Vestager: Ireland ‘taking too long’ to recover Apple tax – May 19, 2017
EU’s hypocritical Margrethe Vestager going after Apple while backing Madeira tax avoidance scheme – February 14, 2017
Apple has missed the deadline to pay $13.9 billion to Ireland in illegal tax benefits – January 31, 2017
Apple CFO Maestri: What the EC is doing here is a disgrace for European citizens, it should be ashamed’ – December 19, 2016
Apple’s EU tax nemesis Margrethe Vestager takes aim at other U.S. companies’ offshore profits – September 19, 2016
The ‘Brexit-Apple’ connection: What in the world was Margrethe Vestager thinking? – September 12, 2016
EU ministers line up to take tax bites out of Apple – September 12, 2016
Former EU competition commissioner: Vestager claim that Apple owes back taxes an incorrect use of EU law – September 2, 2016
Irish government to fight EU on Apple tax – September 2, 2016
Treasury accuses EU of trying to steal U.S. tax revenues with Apple decision – September 1, 2016
Irish residents opposed to EU’s tax demand of Apple – September 1, 2016
Apple Inc. pushes back against EU tax grab – September 1, 2016
Apple may repatriate billions of dollars next year after new U.S. President takes office – September 1, 2016
U.S. tax code allows for dramatic retaliation against EU overreach in Apple case – September 1, 2016
Apple CEO Tim Cook on EU tax demand: ‘No one did anything wrong here and Ireland is being picked on… It is total political crap’ – September 1, 2016
U.S. Treasury: The European Commission’s retroactive tax demands on Apple are unfair – August 30, 2016
EU demands Apple pay massive $14.5 billion in taxes plus interest – August 30, 2016
What a depressing Farce 😡
And all that money has already disappeared and no one knows where it went…
The article says it went into an escrow fund. Do you know something different?
Utter childish nonsense. The EU should stop playing nanny, as everyone knows the money will be deposited. The longer it takes, the more interest becomes due.
The silly original reasoning the EU used, like Apple paying 0.005% tax, when they didn’t factor in that Apple had legally “deferred” $35B in US tax, now become even more silly when Apple has announced that they will comply with US tax reform and pay $38B on that foreign-earned income. Somehow, I don’t think that 0.005% tax rate will stay that way for long. The original EU argument was always cynical and wrong, and I can’t wait for the EU appellate court to get thru with this nonsense.