Apple has deposited €14.3bn into an escrow fund, representing the completion of the full recovery of alleged State aid.

Minister for Finance Paschal Donohoe confirmed that the tech giant deposited €13.1bn plus EU interest of around €1.2bn.

The recovery of the funds is a "significant milestone" which reflects a timeline commitment given earlier this year.

The Government does not accept the Commission's analysis in the Apple State aid decision and have lodged an appeal with the European Courts.

Speaking today Minister Donohoe said: "While the Government fundamentally disagrees with the Commission’s analysis in the Apple State Aid decision and is seeking an annulment of that decision in the European Courts, as committed members of the European Union, we have always confirmed that we would recover the alleged State Aid," Minister Donohoe said today.

"We have demonstrated this with the recovery of the alleged State Aid which will be held in the Escrow Fund pending the outcome of the appeal process before the European Courts."

Government officials have repeatedly insisted that no sweetheart tax deals have been offered to firms to attract them here.

Now the multi-billion sum is collected, the money will be place the money in an escrow account pending an appeal.

If the appeal, which could take as long as five years, is successful, the cash will be returned to Apple.

"This is the largest State Aid recovery at around €14.3bn and one of the largest funds of its kind to be established," said Minister Donohoe.

"It has taken time to establish the infrastructure and legal framework around the Escrow Fund but this was essential to protect the interests of all parties to the agreement."

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