To view the full article, register now.
Ireland has said that negotiating the terms of that fund is what has held up its collection of the money, but the European Commission said that the action it has taken against Ireland for failing to follow the 2016 ruling will proceed until the money is collected in full.
Money from Apple will start to be paid into the account from the first quarter of 2018, the Minister said.More news: Xiaomi's next flagship smartphone will use a Qualcomm Snapdragon 845 chip
More news: Guardiola explains incident with Nathan Redmond
More news: HE'S FINALLY LEAVING: Jose Mourinho names his price for highly-rated defender
Minister for Finance Paschal Donohoe met European Competition Commissioner Margrethe Vestager in Brussels on Monday to confirm that tendering for the management of the account - the two roles of custodians to safeguard the money, and investment managers to handle the bonds - will be completed by the end of January.
"The Commission's case against Ireland has never been about how much Apple pays in taxes, it's about which government gets the money". According to the EU, the tax deal allowed Apple to pay nearly nothing in tax on its European profits between 2003 and 2014.
In a statement, Apple said that it remains confident the court will overturn the commission's decision once it has reviewed the evidence.
Apple also said that it is "the largest taxpayer in the world" and that it "pays every dollar it owes in every country around the world".