Apple is to pay Irish Government Tax that amounts to 160 Billion US Dollars

Feb 23, 2018, 6:14 am

Aniruddha P.

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Apple’s tax troubles seem to continue, though there are plausible settlements lurking in the near future this time. Today, February 23, Irish Taxation Committee said officially that Apple is still to pay its taxes in the European country. The amount totals to about 160 billion US dollars, which is an estimated 100 million euros by the European Commission.

Earlier reports on the Irish tax bill report revealed that it would be 13 billion euros, which is close to the 2016 tax payment standard of the European Commission. Then, the commission ruled out that the Irish government levied on Apple’s standards are ‘illegal tax incentives.’

Apple taxes payment progress has been noticed as very slow by the government. This led Ireland to arrange for a special escrow fund on Apple’s taxation work, although it proved to be ineffective. Thereafter, the court provided a wake-up call to the government and Apple during last month.

Leo Varadeka, the Irish Prime Minister said that Apple will pay initial taxes starting the second quarter of this year till the third quarter. The chairman of the tax commission Niall Cody confirmed that the government is yet to finalize the tax arrears of Apple, although it came to 95% of the entire process so far. The final amount will be confirmed soon, with all calculations to be completed by the April-end.

Apple is yet to comment on this, but we are keeping a tab. Stay with us for the next update on the matter as it surfaces.

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