05 DEC

Apple agrees to pay over $15 billion to Ireland in back taxes

According to a top Irish official, Apple has agreed to to pay Ireland around $ 15.4 billion in back taxes.

“We have now reached agreement with Apple in relation to the principles and operation of the escrow fund,” Finance Minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager, per Reuters.

“We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year.”

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Ars Technica

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