How it was reported in the Irish Times on Mon 29 Aug
Here is a snippet.
Headline: "Apple faces tax demand as EU to rule Ireland deal was 'illegal'."
Subheading: "Windfall will not be used for schools or health but will pay down debt. Commission set to make decision as early as tomorrow or Wednesday"
Body: "The Revenue Commissioners will be required to raise a tax assessment on Apple in the coming months when the EU rules that the technology giant's tax arrangements in Ireland were illegal under state aid rules, as is expected in the coming days.
The Apple tax bill, expected to amount to hundreds of millions of euro, is not likely to be transferred to the State immediately, however.
Instead, it will be held in an escrow account pending appeals of the EU's decision by Apple and the Irish Government. Ministers will continue to insist Ireland did not offer Apple a special deal.
Even if the appeals are ultimately lost and the cash reverts to the Irish State, it will not be used for budget spending or investment, according to the sources who have been briefed on the issue.
Instead, it will be treated as a windfall gain and the Government will be requred to use it to pay down the national debt.
'At no point will we have extra billions to spend on schools and hospitals', one Minister said.
The European Commission is expected to make public in the coming days, a ruling that Apple's tax arrangements in Ireland consitituted illegal state aid."
My response to this is:
1. It is reassuring to me to see that the EU is strong enough to take on Apple, albeit indirectly by challenging Ireland's arrangement with it. In 2015 Apple reported the biggest annual profit in history with net income of $53.4bn; an enormous profit greater that made by ExxonMobil in 2008.
2. The Irish Times seems to offer good quality journalism.
3. I get the impression from this, and from the rest of the paper, Ireland seems a much better run country than Blighty. I don't know Ireland very much and I can't comment on whether there was a special deal. It seems to me hard to imagine a UK minister saying 'At no point will we have extra billions to spend on schools and hospitals',