Sun12172017

LAST_UPDATESun, 17 Dec 2017 3pm

Ireland Says Yet To Agree Exact Date For Apple To Start Transferring Tax Funds

DUBLIN  - Ireland expects Apple to start paying up to 13 billion euros ($15.36 billion) in back taxes into an escrow account once it is set up at the end of January, but an exact date has yet to be agreed.

More than a year after the European Union ordered that the tax be collected following its ruling that the iPhone maker received unfair tax incentives from Ireland, Dublin’s slow pace in recovering the money has landed it in court.

“When it will move in and how it will move in, we have yet to conclude with Apple but I expect that process to begin when we have completed (the setting up of the escrow account),” Finance Minister Paschal Donohoe told state broadcaster RTE.

Both Dublin and Apple are appealing the record EU order.

-Reuters