Dáil Éireann Debate, Wednesday - 21 June 2017
158. Deputy Pearse Doherty asked the Minister for Finance if the escrow account in which the estimated €13 billion plus interest from a ruling regarding a company (details supplied) will accrue interest; if so, the rate of same; if the interest will be treated as income due to the State; the estimated interest foregone as a result of the delay in collecting the money; and if he will make a statement on the matter. [29241/17]
Amharc ar fhreagraNotwithstanding the appeal in the Apple State Aid case, the Government is committed to complying with the binding legal obligation the Commission’s Final Decision places on Ireland to ensure that Apple are deprived of the benefit of the alleged aid.
These sums will be placed into an escrow fund with the proceeds being released only when there has been a final determination in the European Courts over the validity of the Commission’s Decision.
Given the scale and bespoke nature of such a fund, the precise terms are still being negotiated and are subject to confidential and commercially sensitive deliberations.
The Government is fully committed to ensuring that recovery takes place without delay and have committed significant resources to this matter.
Irish officials are continuing this intensive work to ensure that the State complies with all our recovery obligations as soon as possible, and remain in regular contact with the Commission and Apple.
