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Ireland expects Apple back tax in escrow account in first quarter, 2018

The European Commission said the record tax was the result of Apple receiving unfair tax incentives from Ireland

Reuters 

Ireland expects iPhone maker Apple to start paying up to €13 billion ($15.4 billion) in back taxes into an escrow account in the first quarter of 2018, the finance minister said on Monday. The European Commission said the record sum was the result of Apple receiving unfair tax incentives from Ireland. More than a year after the EU order, Dublin’s slow pace in recovering the money has landed it in court. Ireland is now seeking an investment manager and a custodian to operate the account and expects to appoint both next month. “We have now reached agreement ...

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First Published: Tue, December 05 2017. 00:48 IST
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