Update: The European Commission has confirmed the fine, while also ordering Google make changes to rectify the problem.
Google is bracing itself to be hit with a 4.3 billion euro ($5 billion) fine as a result of its Android operating system strategy, the BBC reports.
The European Commission’s action will mark the conclusion of a three-year investigation into Android’s strategy, which unfairly strengths Google’s dominance as a search engine. The fine will be formally announced later today.
Apple has transferred the first 1.5 billion euro ($1.18 billion) installment of its $16 billion fine ordered by the European Union, reflecting back taxes the company supposedly hasn’t paid.
The payment was confirmed today by Ireland’s Finance Minister Paschal Donohoe. In response to Apple paying up, EU authorities are reportedly open to dropping a lawsuit against Ireland for failing to do more to chase Apple’s debt.
Apple has formerly requested approval for its Shazam acquisition from the European Commission.
EU antitrust regulators confirmed last month that they had launched an investigation into the deal following concerns from seven European countries. Apple will get a decision next month, but it may not be final.
After dragging its feet over collecting its giant 13 billion euros ($15.5 billion) tax bill from Apple, Ireland’s Department of Finance has revealed that an agreement has been reached with Apple over when the sum will actually be paid.
The giant tax haul, which Apple was ordered to pay by the European Commission over a year ago, will be transferred to an escrow account, which will manage the funds until all of Apple’s appeals have been heard. But not until 2018!
In the latest instalment of Apple’s battles with the European Union over taxes, Ireland is set to miss a deadline to hire managers to cary out the collection of its owed taxes.
The Irish debt office previously said that it would hire custodians and investment managers for the estimated $15.3 billion tax bill it was awarded by mid-November. However, Ireland — which has fought against collecting the funds from Apple — hasn’t handed out the contracts as it said it would in tender documents.