Finance Minister Jack Chambers said it will be months before over €13 billion, which is in an escrow fund, will be drawn down and used
It will take Ireland months to draw down billions of euro in back taxes from Apple following a ruling by Europe’s top court, Finance Minister Jack Chambers has said.
He also defended Ireland’s decision to spend €10 million in legal fees fighting the case, arguing that it was important to protect Ireland’s national tax sovereignty. Public Expenditure Minister Paschal Donohoe, a former finance minister who made the decision to challenge the case, said if they did not do so it would have sent a message that the government did not have confidence in how tax policy works in Ireland.
The Irish Government said it will “respect the findings”, but said its position remained that Ireland “does not give preferential tax treatment to any companies or taxpayers”. As a result, competition commissioner Margrethe Vestager said in 2016 that Ireland had granted illegal tax benefits which enabled the company to pay substantially less tax than other businesses over many years. A European Commission investigation found Apple had paid an effective corporate tax rate of 1 per cent on its European profits in 2003, down to 0.005 per cent in 2014 – 50 euro for every one million euro of profit.
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