Apple Agrees to Deal With Ireland Over $15 Billion Unpaid Tax Issue
EU said tax deal with Ireland had allowed Apple to pay almost zero tax on European profits between 2003 and 2014
BRUSSELS—Apple Inc. and Ireland have reached an agreement on the terms of an escrow fund, allowing the transfer of roughly €13 billion ($15.46 billion) in allegedly unpaid taxes that the European Union ordered Dublin to retrieve, beginning in the first quarter of next year, Ireland’s finance chief said Monday.
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 €13 billion from Apple in uncollected taxes.
Irish Finance Minister Paschal Donohoe made the remarks to reporters Monday ahead of a meeting with EU antitrust chief Margrethe Vestager. Mr. Donohoe said he called the meeting with the competition commissioner to brief her on the latest developments.