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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)

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Netflix Not to Integrate its Services with Apple Streaming Platform

Netflix won't be part of Apple streaming platform

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Apple, Campus, China
A customer is entering the Apple store in Fairfax, Virginia. VOA

Ahead of the launch of Apple’s streaming service, Netflix CEO Reed Hastings has said his company will not integrate its services with the upcoming platform.

“Apple’s a great company. (But) we want to have people watch our content on our service, and so we have chosen not to integrate into their services,” Hastings said at a press event here on Monday.

The comment precedes Apple’s impending formal announcement to take a deep-dive into the competitive technology-driven world of over-the-top (OTT) entertainment with a set of its own original shows, as well as plans to resell other subscription services like Starz and Showtime as part of its service.

Asked how Netflix can compete with companies like Apple and Amazon that have deep pockets, Hastings said: “With difficulty.”

“You do your best job when you have great competitors. They do a good job, I am going to be envious. They are going to come up with great ideas, I am going to want to borrow those…

“We will make this a great industry if we have great competitors and those companies will be amazing competitors in addition to the ones that we have now,” Hastings told reporters here.

Netflix.

Talking specifically on the competition with Amazon, Hastings said: “For the last 20 years, we have grown. We have got many competitors. We have been competing with Amazon for many years. They are reported to be spending $4-5 billion a year or so on content.

“We spend about twice that. Now, new companies are coming… There’s Disney+, WarnerMedia.

“They (the parent companies) have been in the business for a long time, and we compete with all kinds of entertainment time already. Sometimes we think of YouTube as a great partner, sometimes as a competitor. It’s the same with all of these,” he added.

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“Our success doesn’t determine their success. And what matters is to do amazing content that people love watching and sharing,” Hastings noted.

Apple is gearing up for its mega event on March 25 at the Steve Jobs theatre on its Cupertino, California-based campus, during which the tech giant is expected to announce its much-awaited video streaming service. (IANS)