Apple will pay tax Europe

Apple has long used a loophole in Irish law to pay the lowest taxes.

After lengthy trials, the Department of Finance of Ireland has ruled that Apple must pay a tax of 13 billion euros.

The funds that the company had to pay a year ago, transferred to the escrow account. Money on it will lie as long as all of Apple’s appeal will not be considered, but no later than 2018.

John Hogan, assistant Secretary, Department of Finance, acknowledged that the process of adoption and approval of this decision took longer than expected.

In 2016 the European Union has accused Apple that it is illegal banked the profit from many countries of Europe through Ireland. The investigation claimed that the company paid only 0.005 per cent of the tax, which was levied in 2014.

This led to the fact that the European Commission has filed a lawsuit against Ireland in October 2017.

This week the Chairman of the Committee, which oversees the case, said John Hogan from the Ministry of Finance in Ireland, clash with the European court of justice could damage the reputation of Ireland. The Haganah claimed that the country had done “everything possible” to resolve the situation.

Anyway, the Apple evasion from payment of taxes abroad continues to be a problem. The company was mentioned in the recently leaked document called “the Paradise Papers”. It describes in detail on how wealthy people and companies are pulling large amounts of money abroad to avoid taxes.

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