To put it into perspective, €13 billion is about the health budget for 2016…
The European Commission has ruled, as expected, that Apple’s tax deal with Ireland granted undue benefits to the company.
As such, Apple have been ordered to repay up to €13 billion plus interest in a tax bill to the Irish Government.
You can read more about the details of the payments here.
The ruling will be appealed by the Irish Government…
Minister Noonan disagrees profoundly with Commission on Apple https://t.co/zim7k0NOQ4 pic.twitter.com/tRyR6c28HU
— Department of Finance (@IRLDeptFinance) August 30, 2016
But after such a startling announcement, social media is ablaze as people debate the impact of such a payment, although it was announced that any money the government receives will be used to service the national debt only.
That hasn’t stopped people from speculating…
We've just been "awarded" £13bn – now comes the political crisis #GoodTimesAhead #AppleTax
— Joe O'Shea (@josefoshea) August 30, 2016
Apple paid just €50 of tax per every €1m of profits made thru its HQ in cork 2014 – an effective tax rate of 0.005% #AppleTax @Channel4News
— Helia Ebrahimi (@heliaebrahimi) August 30, 2016
https://twitter.com/stephenkinsella/status/770559943888007168
Ah here, if you are making us recover the cash then we get to keep it #AppleTax
— Emmet Ryan, back in The D-SIX (@emmetjryan) August 30, 2016
Apple fine amounts to €2,732 for every Irish citizen or 4 iPhone 6s for everyone in the country #AppleTax
— Hugh O'Connell (@oconnellhugh) August 30, 2016
€13bn is pretty much the annual health budget, re Apple decision
— Fergal Bowers (@FergalBowers) August 30, 2016
$14.5 billion dollars. #AppleTax pic.twitter.com/e1gCoE6AeD
— Wriggy (@Wriggy) August 30, 2016
Not sure how I'll spend my share of the #AppleTax #Apple billions. Might buy a new iPhone.
— Myles Dungan (@MylesDungan1) August 30, 2016
13 billion euros is around 20% of Ireland's annual tax revenues. #AppleTax #Apple
— Simon Robinson (@iron_emu) August 30, 2016
All were missing is Eddie Hobbs to have a TV show telling us what to do with #AppleTax like the SSIA scheme.
— Colm Gannon (@ColmGannon) August 30, 2016
Some people were not very optimistic about seeing any of the funds…
https://twitter.com/jdancer78/status/770568305732096000
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