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Apple will begin paying R $ 51 billion in retroactive taxes to Ireland in March – but could still get them back

Apple will begin paying R $ 51 billion in retroactive taxes to Ireland in March – but could still get them back

It has been over a year since we spoke about the European Commission decision that determined the illegality of a series of tax benefits granted by the Irish Apple government; added together, these benefits would translate into 13 billion (~ R $ 51 billion) in taxes that Ma has stopped paying since 1991 and should be paid now, retroactively.

Today, the Irish public broadcaster RT reported that Apple will begin to pay all that money in March next, in installments that will extend until September. The general secretary of the Irish Department of Finance, Derek Moran, has already informed the country’s Public Accounts Commission about the payments, but at least at first the money will not go directly to the Irish public coffers. And you can even go back to Cupertino.

Why? Well, both Apple and the Irish government are appealing against the European Commission’s decision, so the money collected will be deposited in a escrow account until the dispute is resolved. If justice is successful for Ma and the government, the money goes back to Apple; otherwise, it goes directly to the country’s coffers.

Of course, considering the astronomical sum of money that this custody account will keep for a few months or even years, depending on how long the justice decides its fate, Apple has surrounded itself with care to ensure that it will be well invested while in it judicial limbo. In this way, if Ma wins the case (as she believes she will), receive a good return when she recovers the amount.

It is good to note that all this history has nothing to do with the repatriation of money announced by Cupertino recently. In 2016, at the time of the decision that obliged Apple to pay retroactive taxes in Ireland, the European Commission said that the total amount to be paid could be reduced if other countries determined that the company should have recorded a portion of its sales there in Ireland’s time or if Ma’s European subsidiaries started paying more American parent taxes. The repatriation of much of the $ 250 billion to the United States, however, does not enter into either of these two cases, so in this respect, nothing changes.

via MacRumors, AppleInsider