Apple agrees deal with Ireland on unpaid taxes

The ruling by the European Commission last year stated that Apple had to pay the fee as it had received unfair tax incentives in Ireland.

It's understood that Apple will start paying the €13 billion in back taxes into an escrow account in first quarter of 2018.

"We have now reached agreement with Apple in relation to the principles for the operation of the escrow fund", said Paschal Donohoe, Irish Finance Minister.

The plan was revealed to reporters just ahead of the minister's meeting with the EU's antitrust chief, who has been chasing down the issue since the ruling last year.

Ireland had held off collecting the money and the matter was appealed to the EU Court of Justice.

Both Apple and Ireland have fought back against the ruling - Ireland has said that the European Union overstepped its authority and got some of the country's laws wrong while Apple has maintained that the amount it's being told to repay was miscalculated.

As no money has been recovered to date, the European Commission itself referred Ireland to the ECJ in October for failing to recover what it found to be "illegal aid" to Apple. We may get more information on the fund, its management and the timing of Apple's payments during the company's next earnings report in January.

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