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Ireland collects 14.3 billion euros from Apple ahead of tax appeal

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Ireland collects 14.3 billion euros from Apple ahead of tax appeal
Attendees wait for the start of an Apple Inc product launch event at the Steve Jobs Theater in Cupertino, California, U.S., September 12, 2018. REUTERS/Stephen Lam   -   Copyright  STEPHEN LAM(Reuters)
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DUBLIN (Reuters) – Ireland has fully recovered 13.1 billion euros (11.6 billion pounds) in disputed taxes from Apple Inc <AAPL.O> plus interest of 1.2 billion which it will hold in a escrow fund pending its appeal against an EU tax ruling, Ireland’s finance minister said on Tuesday.

The European Commission ruled in August 2016 that Apple had received unfair tax incentives. Both Apple and Dublin are appealing against the original ruling, saying the iPhone maker’s tax treatment was in line with Irish and European Union law.

The finance ministry said the case had been granted priority status and is progressing through the various stages of private written proceedings before Europe’s second highest court. The matter will likely take several years to be settled by the European Courts, it added.

(Reporting by Padraic Halpin; Editing by Matthew Mpoke Bigg)

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