Apple reserves 9 of 14 billion euros for repayment in Irish tax cases

Aug

2

2018

Apple has indicated that it has now placed a total of 9 billion euros in a third-party account. According to the EU, Apple has unlawfully received a tax advantage from Ireland. The EU therefore wants Apple to pay back 14 billion to Ieland.

Apple reports that EUR 4.5 billion has been deposited into a third-party account since the end of June, which means that Apple can not bet on its business activities. As a result, it must also be mentioned when the quarterly figures are published. Meanwhile Apple says that it has again deposited 4.5 billion euros. In total, this amounts to 13 billion euros, with a further 1 billion euros in interest.

The decision that Apple will pay back money to Ireland comes from Augst 2016. The European Commission said at the time that the company had paid too little tax on its profits, which would have resulted in a competitive advantage over other companies. There would also be State aid by granting an advantage.

It is not yet said that Apple actually lost this money. That depends on the ongoing legal procedures; both Ireland and Apple have appealed against the decision of the European Commission.

Even if the stock market value does not say anything about how well a company is in a weak state, Apple will have little trouble to cough up the amount required. The company has huge reserves and went Thursday at the US Nasdaq stock exchange as the first US company by the $ 1 trillion border. One share cost $ 207.05, making the company worth $ 1 trillion.

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