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Apple begins to pay fine billionaire to Ireland after conviction for fiscal maneuvers

Written by Hassan Abbas

Apple We all know that Apple was condemned by the European Union to return all tax incentives it received from the Irish government. The decision was made in 2016 and forces the Cupertino giant to disburse billions of dollars that represent a small drop in the company’s budget.

Now, after some time without returning to the subject, Apple returned this weekend the first “instalment” of the $ 15 billion that the company will have to pay to the Irish government. According to information from the international media, the amount deposited by the Cupertino giant was the US $ 1.77 billion.

As we all know, many tech companies have followed Apple’s strategy of creating a subsidiary in Irish territory to avoid paying more expensive taxes on European territory. However, some countries of the bloc have sued the company and the government of the country because of this fiscal manoeuvre.

With the closure of the case, Ireland will be required to receive all the money that Apple will return. In addition, the fine for the company was slightly more expensive due to the exchange rate of the dollar against the euro.

While the Cupertino giant will meet its obligations in instalments, European Union countries are already studying ways to tax technology companies to prevent them from using tax breaks.

Because of this, Apple has already begun to repatriate part of the billions that were outside the United States, and Google is also taking steps to avoid similar problems to the giant of Cupertino.

About the author

Hassan Abbas

Tech enthusiast with too many items on his wish-list and not nearly enough money! Specializing in all things tech, with a slight Apple bent he has been writing for various blogs for the best part of (too many) years

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