It's Tricky': Apple Misses the Deadline To Pay $13.9 Bn To Ireland in Illegal Tax Benefit

Apple has not fully paid the 13 billion euros ($13.9 billion) it owes to Ireland in illegal tax benefits even though the deadline has passed, the European Union's competition said on Tuesday. From a report: "Well the recovery is not done yet but we have been working with the Irish authorizes and we can see that they are moving forward to do the recovery of the unpaid taxes," EU Competition Commissioner Margrethe Vestager said during a press conference in response to a question by CNBC. "It's a tricky thing to do because it's a large sum so of course you have to figure out how to do that. It's not as an escrow account in some of the other cases where it might be 25 or 30 million euros ... and therefore I do respect that it's a complicated matter and it may take a little more time. Last year, the Commission ruled that Ireland must recover 13 billion euros in "illegal tax benefits" from Apple. It found that the U.S. technology giant paid an effective tax rate of 0.005 percent in Ireland in 2014. Read more of this story at Slashdot.
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