3. By the numbers: Apple’s Irish taxes. In 2016, the European Commission ruled that Apple received unfair tax incentives to base parts of its business in Ireland and ordered Ireland to collect over 14 billion euros in back taxes and interest. Apple was required to give up the full amount in advance of a long appeal process, so the Irish government put the money in an escrow account last year to try to preserve its value.
On Thursday, RTE reported that this account lost 16 million euros in value last year due to negative interest rates and bond yields. Apple has a stake in how the investments are managed, and if it wins the appeal, it gets back whatever’s in the pot, whether it’s up or down. — RTE
Total amount of disputed money: €14.285 billion Fund value as of December 31, 2018: €14.269 billion Loss of value in 2018: €16 million