In August 2016, the EU ordered Ireland to collect 13 billion euros (around $15 billion) in back taxes from Apple citing illegal tax benefits from 2003 to 2014. Both Ireland and Apple have rejected the judgement and are appealing the decision in a court battle that will last years.

For the time being, the money will be left in an escrow account. It was announced today that Apple will start paying into that account from next month. This will be the largest ever tax recovery of its kind, if the ruling holds up as lawful.

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Benjamin Mayo

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