Apple To Be Charged $15 Billion As Back Tax By Ireland

06 December, 2017, 00:51 | Author: Lester Mason
  • USA Apple Laden in New York

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.

Ireland has allowed Apple to pay lower tax rates than other EU nations since the early 1990s, but the European Commission ruled in August 2016 that Ireland's practice was illegal and that Apple must pay the rest of the money it should have been taxed.

The EU's ruling also angered a number government leaders in Ireland, who filed their own appeal on the grounds that the ruling infringes on the nation's sovereignty and harms its ability to attract business.

The Republic of Ireland has been giving Apple a sweetheart deal which has meant in many years the company has been paying an effective tax rate of 1% to as low as 0.005 percent, and the European Union has not been happy about it.

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So the Commission referred the Irish government to the European Court of Justice in October due to Ireland's non-compliance with the 2016 ruling.

"We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year".

Both the Irish Government and Apple have appealed the Commission's ruling.

However, Apple added that it remains confident that the court will overturn the commission's decision after reviewing and reading the evidence they have presented in their defense. Despite Apple not wanting to pay the bill - and the Irish Government not wanting to receive it - the two sides have now come to an agreement that means the money owed will now be collected.

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