Apple agrees to pay $15B in back taxes to Ireland

Apple agrees to pay $15B in back taxes to Ireland

Apple agrees to pay $15B in back taxes to Ireland

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.

In fact, the European Commission had ordered the government of Ireland to collect the "back taxes" only after concluding that two Irish tax coding permitted by Apple, that is to pay less tax than other businesses.

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.

Starting next year, will have to start paying Ireland back billions of back taxes.

Paschal Donohoe, Ireland's finance minister, said that Apple is expected to begin funnelling money into the fund during the first quarter of 2018.

KitGuru Says: Apple may start setting the money for this aside soon, but it seems clear that it still wants to get out of it.

Ireland disagreed with the EC's analysis and appealed the decision.

The EU ruling that Ireland offered illegal state aid to Apple, and must recover €13B ($15B) in underpaid taxes, marked the end of a long-running investigation - but not the end of the dispute ...

Apple indicated it didn't see the arrangement as a settlement, though, and vowed to continue to fight to have the judgment overturned. "We remain confident the General Court of the European Union will overturn the Commission's decision once it has reviewed all the evidence". The Government has denied favouring Apple and has joined the company in appealing the original ruling.

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