Ireland says EU action over 13 billion euro Apple tax bill 'regrettable'

Image
Reuters DUBLIN
Last Updated : Oct 04 2017 | 4:07 PM IST

DUBLIN (Reuters) - Ireland on Wednesday described as "extremely regrettable" an EU decision to take the country to the European Court of Justice for failing to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc.

Ireland has said the Commission's August order for the U.S. tech giant to pay the unpaid taxes was unjustified, but it had agreed to collect the money and was seeking one or more investment managers to handle an escrow account.

"It is extremely regrettable that the Commission has taken this action, especially in relation to a case with such a large-scale recovery amount," the finance ministry said in a statement.

"Irish officials and experts have been engaged in intensive work to ensure that the State complies with all its recovery obligations as soon as possible, and have been in constant contact with the European Commission and Apple on all aspects of this process for over a year."

(Reporting by Conor Humphries; editing by John Stonestreet)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 04 2017 | 3:58 PM IST

Next Story