background image

Apple to begin Repayment of Illegal State Aid to Ireland — Orbitax Tax News & Alerts

According to a release from Ireland's Department of Finance, Minister for Finance and Public Expenditure and Reform, Paschal Donohoe TD, signed an Escrow Framework Deed with Apple on 24 April 2018 setting out the agreement for the recovery of State aid. The recovery of State aid is a result of the negative decision adopted by the European Commission on 30 August 2016 concluding that Ireland gave illegal tax benefits to Apple worth approximately EUR 13 billion. Despite pending appeals against that decision ({News-2017-02-24/A/7-previous coverage}), Ireland is still required to recover the "alleged" illegal State aid. Payments to accounts established for the recovery are to begin in Q2 2018 and it is expected that the full recovery will be completed by the end of Q3.