08 October 2017
APPLE CASE: FINE GAEL WILL NOT EVEN TAKE €50 MILLION A YEAR DUE IN INTEREST PAYMENTS
Brian Finucane of People Before Profit has stated that the EU Commissioners Margrethe Vestager has threatened to start another court action against Ireland because of its failure to collect €13 billion in back taxes from Apple.
The company is supposed to have put the money in an escrow account – a temporary deposit- until an appeal case is heard against an original judgement that they have to pay back taxes to the Irish people.
But the Irish government has refused to even collect the money. Apple was supposed to put the money in an escrow account a year ago – but the government has not asked for it.
Instead it has shuffled about claiming that it has to put out tenders for private investment fund managers to deal with the large amount of money.
These fund managers are to be paid €15 million just to look after the money.
Brian Finucsne believes the whole saga has become an Alice in the Wonderland surreal dream.
Instead of taking money which rightfully belongs to the Irish people and using it to relive a housing crisis, the government wants to waste even more taxpayers’ money in order NOT to receive the big Apple cheque.
It has already spent €2.7 million in legal fees to fight the case and is now preparing to giving handouts to fund managers to ‘manage’ the money.
If this government had any to relieve social suffering , it would demand the €13 billion from Apple immediately.
It would take in between €50 and €100 million a year in interest from the escrow account.
It would use the state agency the NTMA to find lucrative spaces to invest it while it is not used.
And, of course, it would drop its legal case and take a huge sum that could help transform the country.
Here is a link to an earlier item in Apple tax debacle.