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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/
(Score: 2) by deimtee on Saturday September 22 2018, @03:13AM
The article doesn't mention who is eventually getting the cash. Is it the EU? Why?
Or does it go to Ireland, who might be publicly going "oh no you can't tax Apple extra, we promised" while privately going "yippee!! what can we do to lose this case?"
If you cough while drinking cheap red wine it really cleans out your sinuses.