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Out of Total Tax Fine of $15 billion, Apple Pays $1.77 billion to Irish Government

In August 2016, the European Commission said that Apple benefited from illegal tax benefits in Ireland from 2003 to 2014.

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Apple
Additionally, Apple has also made updates to its Worldwide Developers Conference (WWDC) app for iOS, promising bug fixes and performance improvements. Pixabay

Apple has paid $1.77 billion of total $15 billion to the Irish government as it begins to collect tax and interest into an escrow account set up to hold the sum.

“This is the first of a series of payments with the expectation that the remaining tranches will flow into the fund during the second and third quarter of 2018 as previously outlined,” the Irirsh Times quoted Minister for Finance Paschal Donohoe as saying after the first transfer.

In August 2016, the European Commission said that Apple benefited from illegal tax benefits in Ireland from 2003 to 2014.

Meanwhile, Apple and Ireland are still pursuing appeals against a 2016 European Commission’s decision saying the iPhone maker’s tax treatment was in line with Irish and European Union law.

Apple pays fine
Apple pays fine to Ireland Government. Wikimedia commons

In 2016, the EU ordered the iPhone maker to pay almost $15 billion in back taxes to Ireland as it believed Ireland had not been collecting enough taxes and instead had been giving companies like Apple too big of a break on its already low 12.5 per cent tax rate.

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Apple has reportedly moved its cash to the small island of Jersey off the south coast of England to avoid further Irish taxation, CNET said in a report.

The Irish government expects that all of the money would be transferred by the end of September. (IANS)

Next Story

Apple CEO Tim Cook Bullish on Preventative Healthcare Technology, AR

I view AR like I view the silicon here in my iPhone, it's not a product per se, it's a core technology," he said

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Tim Cook
Apple CEO Time Cook. Wikimedia Commons

Calling Augmented Reality (AR) the next big thing in technology, Apple CEO Tim Cook has reiterated his commitment towards building more preventive healthcare tools in devices like Apple Watch.

In a conversation with IDA Ireland CEO Martin Shanahan here on Monday, Cook said the company is investigating technology that could help identify health risks at an early stage, reports Silicon Republic.

“I think you can take that simple idea of having preventive things and find many more areas where technology intersects healthcare, and I think all of our lives would probably be better off for it,” Cook said.

The cost of healthcare can “fundamentally be taken down, probably in a dramatic way” by integrating healthcare technologies in consumer devices like Apple Watch, he added.

The medical fraternity has welcomed the ECG app and irregular rhythm notification feature on Apple Watch (Series 4 and 5) that can help identify atrial fibrillation, or AFib which is the most common form of arrhythmia.

The sound-monitoring Noise app and menstrual cycle tracking Cycle app have also been released with watchOS 6.

“Most of the money in healthcare goes to the cases that weren’t identified early enough. It will take some time but things that we are doing now — that I’m not going to talk about today — those give me a lot of cause for hope,” Cook told Shanahan.

Tim Cook
New iPhones worth the cost: Tim Cook. IANS

There have been numerous cases where Apple Watch has saved lives globally.

IDA also presented Cook with the inaugural ‘Special Recognition Award’ for Apple’s 40 years of investment in Ireland.

Calling AR the “next big thing” in tech, Cook said he thinks it’s something that doesn’t isolate people.

“We can use it to enhance our discussion, not substitute it for human connection, which I’ve always deeply worried about in some of the other technologies,” said the Apple CEO.

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Cook always compared AR with the ubiquitous smartphones.

“I regard it as a big idea like the smartphone. The smartphone is for everyone, we don’t have to think the iPhone is about a certain demographic, or country or vertical market: it’s for everyone. I think AR is that big, it’s huge,” Cook told The Independent newspaper.

I view AR like I view the silicon here in my iPhone, it’s not a product per se, it’s a core technology,” he said. (IANS)