Fund containing Apple’s giant EU tax bill lost $18 million last year

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money
The escrow contains Apple's massive $16 billion fine.
Photo: Ste Smith/Cult of Mac

The escrow fund containing the massive $16 billion fine Apple was commanded to pay by the EU declined by $18 million last year.

The funds are being held in an escrow account while appeals by Apple and Ireland make their way through the court. In the meantime, the money is invested — but, at least based on last year, not as successfully as hoped.

Ireland probes Apple’s compliance with strict EU privacy rules

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Fees Apple charges competitors to appear in the App Store are the target of an EU investigation.
EU law sets strict privacy rules, and it’s the job of an Irish commissioner to be sure Apple is following them.
Photo: Pexels

Ireland’s Data Protection Commissioner is looking into whether Apple is following all the requirements of the EU’s new General Data Protection Regulation privacy law.

The DPC has three investigations going into Apple’s business practices, each covering a different aspect of the GDPR legislation. There are far more ongoing probes into how Facebook handles user privacy.

Apple’s clever tax practices make it Ireland’s biggest company

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Guinness 1
And the winner is Guinne.. no, obviously it's Apple!
Photo: Scott Thompson/Flickr CC

Move over Guinness, hold the Jameson’s, and don’t even think about Kerrygold. When it comes to Ireland’s biggest company, no-one holds a candle to, err, Apple.

You know, that company headquartered in California, which builds products in China, and sells them everywhere on the planet.

Construction halts on Apple data center in Denmark

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Irishcenter
Another data center Apple had planned for Ireland.
Photo: Apple

Construction has been abandoned on Apple’s new data center in Denmark, according to local reports.

“There is no life” at the site after hundreds of workers for main contractor Exyte were sent home. It is believed Apple has terminated its agreement with the company following a dispute.

Apple’s aborted data center still causing problems in Ireland

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data center
The data center as it would have looked.
Photo: Apple

Endless delays may have caused Apple to ditch its plans for a giant data center in County Galway in Ireland, but the repercussions are still being felt.

Galways’s Supreme Court will sit in March to hear an appeal regarding whether An Bord Pleanála, the independent planning body, “breached its legal obligations” by approving the first part of the proposed $960 million Apple development.

Ireland won’t be sued over Apple’s giant tax bill

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Apple's headquarters in Cork, Ireland.
Apple's headquarters in Cork, Ireland.
Photo: Jan Zuppinger/Flickr CC

The European Commission has decided that it won’t sue Ireland over delays in recovering a 13.1 billion euro ($15 billion) disputed tax bill from Apple.

The European Court of Justice action against Ireland was initiated in October 2017 after the country failed to get Apple to pay up one year after the European Union handed Apple the massive tax bill.

Apple makes last payment on $16.7 billion in Irish back taxes

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money
Even given Apple's $1 trillion valuation, $16.7 billion in back taxes is a big chunk of money Apple hopes it will get back.
Photo: Jim Merithew/Cult of Mac

Apple has now transferred all €14.3 billion it has been ordered to pay Ireland for back taxes. The cash will stay in an escrow fund while Ireland tries to convince the EU that Apple should get its money back.

This is part of an on-going saga with the EU accusing Ireland of being a tax haven, and Apple caught in the middle.

Tim Cook talks taxes and failed Irish data center in new interview

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brand intimacy
Apple CEO Tim Cook likes to get close to the fans.
Photo: Tim Cook/Twitter

Apple CEO Tim Cook made a quick stop in Ireland this week where he promised the country he’s interested in it for more than its sweet tax rate.

The company’s relationship with Ireland has been rocky the last year. Apple scrapped plans to build a billion-dollar data center and lost its tax deal, but Cook says he’s still as committed to the country as ever.

Tim Cook opens new Apple office in Cork, Ireland

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Irish flag
Apple has been based in Cork since 1980.
Photo: Ste Smith/Cult of Mac

Tim Cook is in County Cork, Ireland today, opening the new expansion of Apple’s Hollyhill site — creating many jobs in the process.

Apple is Cork’s largest private employer, having had a presence in the area for decades. It is home to Apple’s only wholly owned manufacturing facility in the world, building “made-to-order” iMacs for customers in Europe, the Middle East, and Africa.