Actionable news
All posts from Actionable news
Actionable news in AAPL: Apple Inc.,

Ireland will have to accept Apple tax payment, leaders admit

Ireland's government has admitted that it will have to accept a 13 billion euros ($14.6 billion) payment from Appleordered by the European Commission, despite well-publicized resistance to the award from its politicians.

The country's Department of Finance said in a briefing paper sent to members of the Dail, Ireland's parliament, that its Revenue Commission would have to collect the sum and put it into an escrow account, ahead of a key debate on Wednesday on whether or not to appeal the decision.

The special sitting of the Dail comes after considerable protests by both Apple and the Irish authorities over the EC decision, which was made on the basis that low tax rates for Apple subsidiaries based in Ireland constituted illegal state aid. This has been hotly...