Apple finally giving Caesar he's due to the tune of $15 billion

Apple agrees to cough up $15m in Irish back taxes

"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 firm said in a statement.

In August 2016, Vestager said the tax deal struck between Apple and Ireland for the period 2003 to 2014 was illegal state aid.

The Government has finalised an agreement with Apple over the management of an escrow account into which its contested €13 billion tax bill will be paid. While one might wonder why the Irish government might turn up its nose at $20 billion, by offering annual tax rates as low as 0.005 per cent for over a decade, Ireland essentially acted as a tax haven - a status it has used to attract investment and presence by global corporations. A number of firms exploit the European Union's free trade laws by setting up offices in countries that offer low corporate taxation rates.

Both are continuing to appeal the decision and the money will sit in an escrow fund while they do so.




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Irish finance chief Paschal Donohoe said Apple will start paying the money into an escrow fund during the first quarter of 2018.

Apple filed an appeal against the Commission's ruling in December 2016, and the company accused outspoken EU Competition Commissioner Margrethe Vestager of using Apple as a "convenient target" to make headlines. The Cupertino, Calif. -based tech company said in a statement that it remains confident the court will overturn the ruling once evidence has been reviewed.

As no money has been recovered to date, the European Commission itself referred Ireland to the ECJ in October for failing to recover what it found to be "illegal aid" to Apple.

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