The Government have confirmed today that it will officially accept payments in early 2018 from Apple in regards to their outstanding €13bn tax bill.
Although the state won’t officially receive the funds until after a European Courts of Justice ruling, the Minister for Finance Paschal Donohoe confirmed this afternoon that the outstanding bill will be paid into an escrow account until a ruling is declared.
It is believed the agreement comes as both Apple and the Irish Government will look to appease the EU after the company was found guilty of breaching the rules and therefore they owed Ireland in back taxes.
However both the Irish Government and Apple say there was no breach of rules and that the company acted within the law and complied with Ireland’s corporate tax rates.
It is expected the money will be paid into the account which remain untouched until a ruling on the matter is made in 2018.