Ireland says yet to agree exact date for Apple to start transferring tax funds


How Apple operations under CEO Tim Cook differ from Steve Jobs

Cunningham Collective founder Andy Cunningham, who helped launch Apple Macintosh, weighs in on Tim Cook’s performance as Apple CEO and explains why, despite successful market performance, there could be trouble ahead for the technology giant.

DUBLIN (Reuters) - Ireland expects Apple to start paying up to 13 billion euros ($15.36 billion) in back taxes into an escrow account once it is set up at the end of January, but an exact date has yet to be agreed.

Continue Reading Below

More than a year after the European Union ordered that the tax be collected following its ruling that the iPhone maker received unfair tax incentives from Ireland, Dublin's slow pace in recovering the money has landed it in court.

More from FOX Business

"When it will move in and how it will move in, we have yet to conclude with Apple but I expect that process to begin when we have completed (the setting up of the escrow account)," Finance Minister Paschal Donohoe told state broadcaster RTE.

Both Dublin and Apple are appealing the record EU order.

(Reporting by Conor Humphries,; Editing by Padraic Halpin)

What do you think?

Click the button below to comment on this article.