Ireland Seeks Apple Back Tax
Ireland is calling on Apple to start paying up to 13 billion euros (A$20.4 billion) in back taxes into an escrow account in the first quarter of 2018.
The European Commission has followed up by saying that the record sum has been the inevitable result of Apple receiving unfair tax incentives from Ireland.
“We have now reached agreement with Apple in relation to the principles and operation of the escrow fund,” Finance Minister Paschal Donohoe told reporters. “We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year.”
Both Dublin and Apple have challenged the EU order.