Investor Presentaiton
Commission's ruling on Apple annulled
Further appeal by EC means case continues
In 2016, the European Commission ruled that Ireland illegally provided State aid of up to €13bn, plus interest to Apple. This
figure was based on the tax foregone as a result of a historic provision in Ireland's tax code. The Irish Government closed
this provision on December 31st 2014.
Apple appealed the ruling, as did the Irish Government. The General Court granted the appeal in July 2020, annulling the
EC's ruling.
This case had nothing to do with Ireland's corporate tax rate. It related to whether Ireland gave unfair advantage to Apple
with its tax dealings. The General Court has judged no such advantage occurred.
The Commission has decided to appeal to a higher court: the European Court of Justice. This process could still be lengthy.
Pending the outcome of the second appeal, the €13bn plus EU interest will remain in an escrow fund.
The NTMA has made no allowance for these funds in any of its planning throughout the whole process. There is no need to
adjust funding plans given the decision by the General Court or by the Commission's decision to appeal.
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
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