World - - Feb 01,2017
Apple still hasn’t completely paid the 13 billion euros ($13.9 billion) it has to repay Ireland in regard to illegal tax benefits, as per European Union’s competition.
Last year, the Commission ruled that Ireland must recuperate 13 billion euros in "illegal tax benefits" from the U.S based tech giant, Apple. It was revealed that the firm paid an effective tax rate of 0.005 percent in Ireland during 2014.
The deadline for Ireland to recover the amount into an escrow account stated to be January 3. However, the money still has not been repaid.
“Well the recovery is not done yet but we have been working with the Irish authorizes”, said EU Competition Commissioner Margrethe Vestager. She also added that, it is a tricky thing to do because a large sum is involved and a precise course has to be figure out on how to do that.
A spokesperson for Ireland's Ministry of Finance said, the authorities are continuing to make movement of the recovery from Apple with the full cooperation of the EU Commission as well as the company.
Ireland's Finance Minister Michael Noonan, in response to a question concerning Apple's taxes, said due to legal hurdles it could take years before landing a conclusion to the case.
Apple, however, hasn’t responded to any request for comment. But in an interview with the Irish Independent last year, Apple CEO Tim Cook, titled the ruling as "total political crap" which doesn’t hold any basis in law or in fact.
Noonan said that, the Commission is getting intricate in what is the ability of sovereign governments in Europe. He further added, this is an approach through the back door in order to influence tax policy over competition law.