{"id":20352,"date":"2018-08-03T13:13:05","date_gmt":"2018-08-03T13:13:05","guid":{"rendered":"https:\/\/www.knowband.com\/blog\/?p=20352\/"},"modified":"2018-08-03T22:43:05","modified_gmt":"2018-08-03T13:13:05","slug":"apple-paid-two-third-of-irish-tax-bill","status":"publish","type":"post","link":"https:\/\/www.knowband.com\/blog\/news\/apple-paid-two-third-of-irish-tax-bill\/","title":{"rendered":"Without batting an eye, Apple says it has paid two third of its Irish tax bill"},"content":{"rendered":"<p>The tech giant, Apple on 1st August 2018, revealed in a regulatory filing that they have paid two-third of the $15.1B which as per EU Entrust regulator, it owes to Ireland in the back taxes.<\/p>\n<h2>The whole story:<\/h2>\n<p>European Commission alleged Apple of an illegal tax deal with the Irish tax authorities in the year 2016. Apple was fined $15.1B for receiving favorable tax rates from Ireland with the hopes that it brings more business to the country.<\/p>\n<p>As of June 30, 2018, 4.5 billion Euros of the total amount were funded in the escrow. Apple owes a total of 13 billion Euros plus an extra 1 billion Euros in interest. Apple has paid more than half of the imposed fine, yet this lawsuit will extend for a few more years. Funds will be kept in the escrow account while this case works their way through the court.<\/p>\n<h2>Why was Apple fined?<\/h2>\n<p>In August 2016, the European Commission ordered Ireland to claw back $15B from Apple in a landmark ruling. The commission found out that iPhone maker Apple has benefited itself from the Irish tax rulings. Apple was alleged for saving huge sums of tax over a few years. It was found that not only the tax ruling was generous but also violated competitor laws.<\/p>\n<p>Looks like EU&#8217;s huge tax bill hasn&#8217;t hurt Apple&#8217;s money-making machine a bit. $15 billion is no big deal when you&#8217;re worth $1 trillion. EU commissioner quoted that lawsuit will be dropped as the Apple pays the whole amount. Lately, Google has also been fined by EU over Android Abuse, read <a href=\"https:\/\/www.knowband.com\/blog\/news\/eu-fined-google-5b-android-antitrust-abuse-case\/\" target=\"_blank\">here<\/a>.<\/p>\n<p><strong>Article Source:<\/strong>\u00a0<a href=\"https:\/\/www.firstpost.com\/tech\/news-analysis\/apple-says-it-has-paid-two-thirds-of-the-15-1-billion-irish-tax-bill-4882571.html\" target=\"_blank\"\nrel=\"nofollow\">https:\/\/www.firstpost.com\/tech\/news-analysis\/apple-says-it-has-paid-two-thirds-of-the-15-1-billion-irish-tax-bill-4882571.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tech giant, Apple on 1st August 2018, revealed in a regulatory filing that they have paid two-third of the $15.1B which as per EU Entrust regulator, it owes to Ireland in the back taxes. The whole story: European Commission alleged Apple of an illegal tax deal with the Irish tax authorities in the year [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":20353,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kbui_enabled":"","footnotes":""},"categories":[1159],"tags":[5842,5841,5845,5844,5843],"class_list":["post-20352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apple-fined-by-eu","tag-apple-irish-tax-bill","tag-fine-on-apple","tag-illegal-tax-deal","tag-irish-tax-rulings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Without batting an eye, Apple says it has paid two third of its Irish tax bill- Blog | Knowband<\/title>\n<meta name=\"description\" content=\"EC alleged Apple of an illegal tax deal with the Irish tax authorities in the year 2016. 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