Ireland starts collecting back-tax from Apple

Apple strikes interim deal on escrow fund for $15B Irish tax claim

Apple have agreed to start paying €13bn tax bill to Ireland in 2018

The Irish government was reluctant to collect the cash, after all that would mean hacking off Apple and that could mean the fruity cargo cult taking its industry elsewhere and finding another tax dodge instead.

Last year, the European Commission ruled that Apple should have to pay £11 billion in back taxes after the company funneled money through Ireland to avoid paying larger taxes on profits made throughout Europe.

"We expect the money will begin to be transmitted into the account from Apple across the first quarter of the year", he added before a meeting with the EU's competition commissioner Margrethe Vestager.

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"We have now reached agreement with Apple in relation to the principles and operation of the escrow fund", said Paschal Donohoe, the finance minister.

Despite the ruling having been issued more than a year ago, in August of 2016, Ireland has resisted collecting the money.

Ireland's low tax deals to large companies has been a key role in the country's economic success. Apple says the amount it's being told to repay is inaccurate, and Ireland says that the European Union has overstepped its authority by requiring it to make Apple Pay that debt. The money which has now agreed to be paid will be held in a special bank account as both the Irish government and Apple are lodging appeals against the European Commission's ruling. "We have a dedicated team working diligently and expeditiously with Ireland on the process the European Commission has mandated", Apple said in a statement given to the WSJ.

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