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Apple Pays Off its $15.4 Billion Irish Tax Bill

posted by martyb on Friday September 21 2018, @10:30AM   Printer-friendly
from the one-bad-apple... dept.

MrPlow writes:

Submitted via IRC for SoyCow1984

The EU deemed Ireland's tax break to Apple illegal in 2016 as it gave the company a "significant advantage" over its competition. Apple was ordered to pay back the taxes it owed for the period between 2003 and 2014, along with interest. Unsuccessful appeals followed until Apple began paying back the money, starting with a $1.76 billion payment in May of this year, into an escrow fund.

"In light of the full payment[*] by Apple of the illegal State aid it had received from Ireland, Commissioner Vestager will be proposing to the College of Commissioners the withdrawal of this court action," European Commission spokesman Ricardo Cardoso said in an email to Reuters.

[*] 13.2 billion Euros ($15.4 billion) in back taxes, plus interest of 1.2 billion Euros ($1.4 billion)

Source: https://www.engadget.com/2018/09/19/apple-pays-irish-tax-bill-eu/

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  • (Score: 3, Funny) by Phoenix666 on Friday September 21 2018, @11:48AM (3 children)

    by Phoenix666 (552) on Friday September 21 2018, @11:48AM (#738056) Journal

    Did they pay it off in pennies? Because I would have paid it off in pennies.

    --
    Washington DC delenda est.
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  • (Score: 3, Funny) by shrewdsheep on Friday September 21 2018, @12:21PM

    by shrewdsheep (5215) on Friday September 21 2018, @12:21PM (#738065)

    Sure, this is why it took them so long.

  • (Score: 0) by Anonymous Coward on Friday September 21 2018, @01:18PM

    by Anonymous Coward on Friday September 21 2018, @01:18PM (#738086)

    Hm, according to a quick duck search a 1 cent euro weighs 2.30 grams. So that's 3 million ton of cents. (at 457000 m³). I wish them good luck with that.

  • (Score: 1, Touché) by Anonymous Coward on Friday September 21 2018, @01:49PM

    by Anonymous Coward on Friday September 21 2018, @01:49PM (#738095)

    Did they pay it off in pennies? Because I would have paid it off in pennies.

    EU is not so obtuse. They would require payment by SEPA and simply not accept cash. This already happens in most other jurisdictions too.