Ireland invests disputed Apple taxes in low risk

2 July, 2019 12:00 AM printer

DUBLIN: Ireland's debt agency has invested disputed taxes collected from Apple in low risk, highly rated euro-dominated fixed income securities, predominantly short to medium-term sovereign and quasi-sovereign bonds, it said in its annual report.

The European Commission ruled in August 2016 that Apple had received unfair tax incentives from Ireland. Both Apple and Dublin are appealing the ruling, saying the iPhone maker's tax treatment was in line with Irish and European Union law, report agencies.