Apple Pays 14 Bln Euros In Taxes And Interest To Ireland

(RTTNews) - Apple has paid 14.3 billion euros to Irish government in back taxes and interest after the European Commission ruled that a tax arrangement between the tech giant and Ireland had broken state aid rules.

Ireland's Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, confirmed the full recovery of the alleged State Aid from Apple has been completed.

Over the course of second and third quarter 2018, Apple deposited 14.3 billion euros into the Escrow Fund which represents the full recovery of the alleged State Aid of 13.1 billion euros plus EU interest of 1.2 billion euros.

Minister Donohoe said, "While the Government fundamentally disagrees with the Commission's analysis in the Apple State Aid decision and is seeking an annulment of that decision in the European Courts, as committed members of the European Union, we have always confirmed that we would recover the alleged State aid. We have demonstrated this with the recovery of the alleged State Aid which will be held in the Escrow Fund pending the outcome of the appeal process before the European Courts."

In 2016, the European Commission had ruled that Ireland granted undue tax benefits of up to 13 billion euros to Apple. The commission termed it as illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland was asked to recover the illegal aid.