“Ireland is to comply with a European Commission order to collect a disputed €13bn tax bill from the US firm Apple,” BBC News reports. “The money is now being paid into a blocked separate account, while Ireland appeals the Commission’s decision.”
“The Commission ruled last year that Ireland had given Apple illegal state aid by allowing it to pay an effective 1% corporation tax,” The Beeb reports. “Ireland was referred to the European Court of Justice after it failed to implement an order to collect the tax.”
“The Irish government says it profoundly disagrees with the Commission’s analysis of the case,” The Beeb reports. “The Irish Finance Ministry said in a statement: ‘These sums will be placed into an escrow fund with the proceeds being released only when there has been a final determination in the European Courts over the validity of the Commission’s Decision.'”
“Ireland has lodged an application in the General Court of the European Union for the Commission’s decision to be annulled. Meanwhile Apple is also challenging the Commission’s ruling. Its CEO Tim Cook has called it ‘maddening,'” The Beeb reports. “An Apple spokesperson said the company was confident the General Court would overturn the Commission’s decision: ‘The Commission’s case against Ireland has never been about how much Apple pays in taxes, it’s about which government gets the money. The United States government and the Irish government both agree we’ve paid our taxes according to the law.'”
Read more in the full article here.
MacDailyNews Take: The farce from the EC clowns continues.
SEE ALSO:
Ireland expects Apple tax clawback in escrow account in first quarter 2018 – December 4, 2017
Ireland expects progress in Apple tax clawback in coming weeks – November 21, 2017
Apple holds on to tax billions as Ireland set to miss deadline – November 16, 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
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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