The controversial concessions of Ireland in fiscal matters for Apple, came to an end a year ago when the European Union intervened in this deal and ordered the Cupertino, pay 13 billion euros. However, it will be in the first quarter of 2018, when the technological giant begins to catch up with this debt.
Irish Finance Minister Paschal Donohoe announced on Wednesday that Ireland expected Apple's money to start flowing into a security deposit account beginning in the first quarter of 2018.
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Apple pays but appeals
Contrary to what one might think, this is not good news for the well-known Esmeralda island. As is known for some time, the country strategically uses low tax rates to stimulate domestic investment by foreign corporations.
Using this strategy, Apple found in Ireland as a tax shelter, allowing it to pay rates of 0.005% on all European earnings between 2003 and 2014, thanks to subsidiaries and fictitious companies designed exclusively to collect and maintain extraterritorial income.
The debt amounting to 13 billion euros, will be executed after the EU referred to the government of the country before the European Court of Justice, the highest court of the governing body of the bloc, to force it to collect the back taxes, all this, due to the inaction of the country to collect this sum.
Both Apple and the government of Ireland are appealing the ruling. As the executives of Apple told the WSJ, they seem to trust that there is still the possibility of a ruling in their favor:
We have a dedicated team that works diligently and quickly with Ireland in the process that the European Commission has ordered. We remain confident that the EU General Court will revoke the Commission's decision once it has reviewed all the evidence.
Apple hopes to recover its money, but before, it will have to pay for it and the EU will supervise that this happens.
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