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Ireland to finally start reclaiming Apple back taxes

05 Diciembre 2017

The government have come to an agreement with Apple for the contested €13 billion tax bill that the company was ordered to pay Ireland.

The Irish government said it expects to begin collecting the money from Apple in early 2018 after the two sides put the final touches on an escrow account that will hold Apple's payments and distribute the funds.

"We have now reached agreement with Apple in relation to the principles and operation of the escrow fund", Finance Minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager, according to Reuters.

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The tax arrangements, set up in 1991 and 2007, let Apple pay.005-percent and 1-percent tax rates on its European profits.

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 ... Both are continuing to appeal the decision and the money will sit in an escrow fund while they do so. "We remain confident the General Court of the EU will overturn the Commission's decision once it has reviewed all the evidence".

Ireland to finally start reclaiming Apple back taxes