Apple
However, irrespective of the outcome of the case, Apple and Ireland have agreed to invest reserves in case the EU Commission finally succeeds. So that the entire amount would not suddenly come to Apple, the group wants to transfer gradually amounts into a trust fund, the Wall Street Journal reported now. In the first quarter, the first transfers should arrive at this.
Currently, however, the two parties have not published any further information on the agreed fiduciary account. It is therefore unclear what amounts Apple will transfer here and who is responsible for managing the funds.However, it can be expected that Apple will include in its balance sheet reports for the next quarter more detailed information since it is obliged to inform the shareholders adequately about the whereabouts of such sums.
Also Read: Apple Submits Patent For Foldable Screen
Ireland has been considered a veritable tax haven in Europe for many years. The country managed to get numerous high technology companies to locate their European offices on the island. In this way, the former backyard of Western Europe managed to eliminate its backwardness and to become a well-functioning economic nation.
