Apple ruling, Eason’s €20m payout, and the inside story on Ireland’s Covid app
Business Today: the best news, analysis and comment from The Irish Times business desk
Eason’s flagship store on O’Connell Street in Dublin. The sale of the property has been delayed due to the impact of Covid-19 on the economy. Photograph: Dara Mac Dónaill / The Irish Times
It was a momentous day in the landmark Apple tax case involving Ireland. Read Joe Brennan’s piece on how the EU’s second highest court struck down the 2016 decision by the European Commission that Apple had received €13 billion in illegal tax aid from the Republic.
In related news, Naomi O’Leary, Joe Brennan and Jack Horgan-Jones highlight how the European Commission opened up a new front to target low-tax member statesafter its Apple ruling was overturned by the EU court in Luxembourg.
Some 230 Eason shareholders are to share a €20 million payout this autumn from the disposal of a number of properties over the past 18 months but the sale of three other sites, including its flagship store on O’Connell Street in Dublin, has been delayed due to the impact of Covid-19 on the economy. Ciarán Hancock has the details.
In an insightful analysis, Cliff Taylor outlines why the Apple profits were never Ireland’s to tax in the first place.
Jack Horgan-Jones says that while the Apple ruling will have been cheered in Government Buildings, there are many voters who remain queasy about Ireland’s role in facilitating tax avoidance by large multinationals.
In her weekly column, Karlin Lillington discovers that technology is not a tool serving her but an “uncompromising taskmaster that seeks to undermine and humiliate at every opportunity”.
In our technology feature, Ciara O’Brien tells the inside story of Ireland’s Covid Tracker app, developed by Waterford company Nearform.
In innovation, Olive Keogh talks to three Irish start-ups about the highs and lows of doing business.
In other news, the European parent company of the McDonald’s Irish operation injected €75 million into its business here to pay off its bank overdraft. Accounts for McDonald’s Restaurants of Ireland also show the company has shifted its tax residency from this State to the UK. Mark Paul reports.