According to a top Irish official, Apple has agreed to to pay Ireland around $15.4 billion in back taxes.
“We have now reached agreement with Apple in relation to the principles and operation of the escrow fund,” Finance Minister Paschal Donohoe told reporters before a meeting with European Competition Commissioner Margrethe Vestager, per Reuters.
“We expect the money will begin to be transmitted into the account from Apple across the first quarter of next year.”
This seems to be such an odd story. Ireland doesn’t want the money. Apple doesn’t want to pay the money. But the rules of the EU dictate the settlement. And how do you go about transmitting $15.4 billion “into the account”? Paypal?