Ireland to reluctantly collect tax windfall from Apple

Apple strikes interim deal on escrow fund for $15B Irish tax claim

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

Apple will start implementing an August 2016 European Commission ruling, paying Dublin billions of Euros in back taxes.

While it may seem the tax rate Ireland sets for Apple is only their own business, Ireland is also a recipient of aid from the European Union, of which they would need less of if they collected more actual tax from the businesses based there.

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

Apple's agreement on Monday has set the wheels in motion for the $14.6 billion to actually be delivered, with Irish officials saying they expected the first payments to be processed in early 2018. According to the EU, the tax deal allowed Apple to pay nearly nothing in tax on its European profits between 2003 and 2014. "Until the illegal aid is recovered, [Apple] continues to benefit from an illegal advantage, which is why recovery must happen as quickly as possible", the Commission said in a statement at the time.

Speaking in Brussels, Irish finance minister Paschal Donohoe said: "We have now reached agreement with Apple in relation to the principles and operation of the escrow fund".

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.

"The Commission's case against Ireland has never been about how much Apple pays in taxes, it's about which government gets the money", Apple said in a statement.

Both Apple and the Irish government have appealed the ruling, but the position in the meantime is that the amount must be collected.

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