Apple Misses Deadline for $13 Billion Payment to Ireland

Apple Misses Deadline for $13 Billion Payment to Ireland

American tech giant Apple has not paid all the €13 billion ($13.9 billion) owed to Ireland for receiving illegal tax benefits despite passing the deadline, according to EU competition chief Margrethe Vestager.

“Well the recovery is not done yet, but we have been working with the Irish authorities, and we can see that they are moving forward to do the recovery of the unpaid taxes,” said Vestager as quoted by CNBC.

Vestager explained some of the issues Ireland and the EU had faced when trying to recoup the taxes.

“It's a tricky thing to do because it's a large sum, so of course you have to figure out how to do that. It's not as an escrow account in some of the other cases where it might be €25 or 30 million … and therefore I do respect that it's a complicated matter and it may take a little more time,” she said.

The European Commission ruled last year that Ireland must recover €13 billion in “illegal tax benefits” from the iPhone maker.

The investigation headed by Vestager found that Apple was paying as little as 0.005 percent tax to the Irish treasury in 2014. The company had to pay the sum by January 3, a deadline which was missed.

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