Apple to start paying Ireland the billions it owes in back taxes

Apple to start paying Ireland the billions it owes in back taxes”

Finance Minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager on Monday that Ireland and Apple had reached an agreement to "the principles and operation of the escrow fund" into which the US iPhone maker was expected to pay the money.

The agreement comes after the EU in October referred Ireland to the bloc's highest court, the European Court of Justice, for failing to implement a 2016 order that Dublin retrieve roughly €13bn from Apple in uncollected taxes.

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The tax arrangements, set up in 1991 and 2007, let Apple pay.005-percent and 1-percent tax rates on its European profits.

"We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated", an Apple spokesperson said in an emailed statement. However, the Wall Street Journal reports today that the country will finally start collecting those billions of dollars owed by Apple and it may start doing so early next year. Everyone from business leaders to everyday citizens have raised their voices in the hopes that the FCC will, at the very least, delay its decision to eliminate the policies that were designed to ensure equal treatment of all internet traffic.

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