State makes move on €15bn owed by Apple

The state has begun the process of collecting €15 billion in taxes and interest from Apple following last year’s ruling that the company benefited from a sweetheart deal with the Revenue Commissioners.

The Department of Finance and Apple are to hire escrow agents, custodians and investment managers to handle the cash over a number of years.

The National Treasury Management Agency has been appointed by the department to run the process.

Apple will ...