Business Standard

Apple's $38 billion US tax payment does not change EU's Irish tax ruling

In 2016, Apple received illegal state aid in Ireland through sweetheart tax deals with the government

Apple, iPhone X, iPhones
Premium

Reuters
Apple announcement that it will pay $38 billion in US tax on its overseas cash will not reduce the $16 billion tax bill the company owes Ireland following a European Union ruling, the EU’s executive said on Thursday.

“Nothing has changed,” a spokesman for the European Commission said, with regards to its 2016 ruling that Apple received illegal state aid in Ireland through sweetheart tax deals with the government.

At the time of the ruling, the Commission said the amount Apple would have to pay to Ireland could be reduced if other countries found the company should have recorded its sales there

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in