“Apple has not fully paid the 13 billion euros ($13.9 billion) it owes to Ireland in illegal tax benefits even though the deadline has passed, the European Union’s competition said on Tuesday,” Arjun Kharpal and Gemma Acton report for CNBC.
“‘Well the recovery is not done yet but we have been working with the Irish authorizes and we can see that they are moving forward to do the recovery of the unpaid taxes,'” EU Competition Commissioner Margrethe Vestager said during a press conference in response to a question by CNBC,” Kharpal and Acton report. “‘It’s a tricky thing to do because it’s a large sum so of course you have to figure out how to do that. It’s not as an escrow account in some of the other cases where it might be 25 or 30 million euros … and therefore I do respect that it’s a complicated matter and it may take a little more time.'”
“Last year, the Commission ruled that Ireland must recover 13 billion euros in “illegal tax benefits” from Apple,” Kharpal and Acton report. “The deadline for Ireland to recover the money into an escrow account was January 3. But the money still has not been repaid… Still both Ireland and Apple have pledged to fight the decision via the European courts. Vestager said at the press conference that she does not know when the court case will take place for Apple and Ireland to appeal the EU’s decision.”
Read more in the full article here.
MacDailyNews Take: Another pothole upon a road that will take years to traverse.
The EU’s antitrust commissioner, Margrethe Vestager, is a fool.
Anyone who decides to set up a business in a European Union member country today is insane. — MacDailyNews, August 30, 2016
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