Ireland has officially withdrawn €14.3 billion from the escrow account set up by Apple in 2018, which was established after the European Commission fined Apple for receiving illegal tax breaks. The funds represented the taxes Apple would have paid had it not received preferential treatment from the Irish government. Following a timeline of legal challenges, the European Court of Justice upheld the original decision of the European Commission, allowing Ireland to reclaim the funds and effectively concluding the long-standing dispute over Apple's tax practices.
The Irish government has announced that it has withdrawn all the money from the escrow account Apple set up back in 2018, totaling €14.3 billion.
Apple's saga regarding back taxes is put to rest as the Irish government moves the money from the escrow account into its central fund.
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