Apple agrees to pay more than $15 billion in back taxes to Ireland

The Jolt Journal (https://www.joltjournal.com)

According to a top Irish official, Apple has now agreed to set aside $15.4 billion and pay their back taxes to Ireland. Per Reuters, Finance Minister Paschal Donohoe told reporters that “We have now reached agreement with Apple in relation to the principles and operation of the escrow fund.”

“We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year.” Ireland has been formally referred to the European Court of Justice after they failed to implement a 2016 order that required the them to collect the amount from Apple.

Apple, in its defense, has stated that it has done nothing wrong and has stated that it has received no “special deal” from Ireland. “We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated,” Apple said in a statement on Monday.

Both Ireland and Apple have challenged the EU’s court order and have stated that neither have broken any laws and are clear of any wrongdoings. Apple is now setting aside $15.4 billion to pay those back taxes.

CategoriesApple Legal
Hamza Khalid

Hamza Khalid is the Lead Editor at The Jolt Journal. You're more than welcome to follow him on Twitter and follow The Jolt Journal on Twitter and Facebook. If you have any questions, concerns, or need to report something in this article, please send our team an email at [email protected]. This story may be updated at any time if new information surfaces.

At The Jolt Journal, no one tells us what to write or how to write it. This is why, in the era of lies and bias, readers turn to an independent source. Rest assured, all information on our website is free of any bias or influence. If you see anything wrong with a story, please don't hesitate to reach out. We do our very best to report on the latest available information.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.