DUBLIN: Operational arrangements for the fund should be finalized in the next few weeks, and a procurement process for investment managers is underway, the government’s finance department informed Reuterson Wednesday. Apple should start paying into the fund in the second quarter of the year.
The European Commission first ordered Ireland to collect back taxes in August 2016, saying that the country had offered preferential tax treatment to Apple for years, even reverse-engineering rules on the fly. By E.U. law, benefits extended to one company must be available to all others.
Both Apple and Ireland have denied any misconduct, and are pursuing appeals. The Commission is launching its own court case, noting that Ireland was originally supposed to have collected the money in January 2017 —it has however said it’s willing to withdraw the case if Ireland collects the full sum in the near future.
Despite its low tax contributions, Apple has become important to the Irish economy.
