Oh no, you're thinking, yet another cookie pop-up. Well, sorry, it's the law. We measure how many people read us, and ensure you see relevant ads, by storing cookies on your device. If you're cool with that, hit “Accept all Cookies”. For more info and to customize your settings, hit “Customize Settings”.

Review and manage your consent

Here's an overview of our use of cookies, similar technologies and how to manage them. You can also change your choices at any time, by hitting the “Your Consent Options” link on the site's footer.

Manage Cookie Preferences
  • These cookies are strictly necessary so that you can navigate the site as normal and use all features. Without these cookies we cannot provide you with the service that you expect.

  • These cookies are used to make advertising messages more relevant to you. They perform functions like preventing the same ad from continuously reappearing, ensuring that ads are properly displayed for advertisers, and in some cases selecting advertisements that are based on your interests.

  • These cookies collect information in aggregate form to help us understand how our websites are being used. They allow us to count visits and traffic sources so that we can measure and improve the performance of our sites. If people say no to these cookies, we do not know how many people have visited and we cannot monitor performance.

See also our Cookie policy and Privacy policy.

This article is more than 1 year old

Escrow you, Apple! Ireland expects Cupertino to cough up to €13bn

Back tax drinking songs break out across Irish pubs

Apple has agreed to start paying the Irish government up to €13bn (£11.4bn) next year.

A spokeswoman from Ireland's Department of Finance confirmed an agreement had been reached with Apple in relation to the framework of the principles that will govern the escrow arrangement, whereby it will deposit money with a third person.

"This allows us to move forward and we will see the completion of the tendering processes that are underway to appoint the escrow agent and the investment manager.

"We are required to operate the tendering processes under European Union law. Work will continue over the next number of weeks to ensure that the infrastructure associated with the Escrow arrangements will be in place and that the recovery sums can be paid over without unnecessary delay.

Inside our three-month effort to attend Apple's iPhone 7 launch party

READ MORE

“We have now reached agreement with Apple in relation to the principles and operation of the escrow fund,” Finance minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager.

In August last year the European Commission ruled that Ireland's tax benefits to Apple were illegal under EU state aid rules because they allowed the giant to pay substantially less tax than other organisations.

In October, the commission referred Ireland to the court over its failure to collect the tax.

A European Commission spokesperson said: "We hope that we can work constructively with the Irish authorities to make sure that recovery is completed as soon as possible. That would also allow us to close this procedure."

The Register has contacted Apple for a statement. ®

 

Similar topics

TIP US OFF

Send us news


Other stories you might like