Apple Misses Deadline To Pay 13.9 Billion To Ireland

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Apple has failed tot fully pay the 13 billion euros that it owes to the Irish government in illegal tax benefits and even though the deadline has passed the European Union has released a statement.

“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 had to recover 13 billion euros worth of “illegal tax benefits” from Apple. This was after the discovery that Apple had an effective tax rate of .005 percent in Ireland in 2014.

The deadline for the Irish government to recover said money into an escrow account was January 3rd and the money has still not be repaid by the technology giant.

“We are continuing to make progress of the recovery from Apple with the full cooperation of the company and the EU Commission,” a spokesperson for Ireland’s Ministry of Finance told CNBC by email.

“The Commission are satisfied with the progress we are making. We have committed to complying with the decision and we fully intend doing that.”

However, both Ireland and Apple has pledged that they are going to fight this decision via the European Courts believing there was no legitimacy of what was done in the past. Apple’s CEO Tim Cook even stated that the ruling was “total political crap” which had “no basis in law or in fact” which begs an important question of how their tax rate got to where it was.

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