I'm curious - how are very large CT payments actually made to the State?

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Protocol

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www.independent.ie

Apple’s Irish arm paid $25bn in corporation tax last year, accounts show

Apple’s main Irish arm paid $8.844bn (€8.17bn) in corporation tax last year, in addition to the EU-ordered $15.8bn Apple tax windfall.
www.independent.ie www.independent.ie


Apple’s main Irish arm paid $8.844bn (€8.17bn) in corporation tax last year, in addition to the EU-ordered $15.8bn Apple tax windfall.
Apple’s main Irish-registered entity has reported pre-tax profits of $76.3bn for 2024 in financial accounts filed with the Companies Registration Office here.
That was up from $71bn in 2023. The accounts show the entity paid corporation tax totalling $8.844bn in respect of last year, up from $7.871bn the year before.
The accounts are for the California-headquartered technology giant’s Irish-registered Apple Operations International Limited, which acts as a parent company for dozens of subsidiaries outside the US.



How does the accountant in AOI Ltd. in Cork actually pay 8.17 billion to the Revenue Commissioners?

One single payment? Regular payments?

Bank transfer to an IBAN?

I presume there must be special ways for corporates to make large payments?
 
Protocol said:
One single payment? Regular payments?
Click to expand...
I think it depends on the calendar basis on which the company's annual accounts are prepared. Corporation tax payments tend to spike in May and November.

The funds taken from the 2016 Apple State aid decision were managed in a kind of escrow account by the NTMA.

But as to your question - a large firm could in fact have a tax bill in nine or 10 figures - I don't know if this is a simple EFT from the firm to Revenue or something more sophisticated.
 
Risk is on the sender side. You can be sure the payment approval has had very senior people involved to verify amount and destination.
 
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