Apple's Escrow account dropped €259m in value last year

The €14.3bn fund was set up after the Irish Government was ordered by the EU Commission to recover taxes and interest from the US tech giant

The long-running tax battler is not expected to be resolved until later this year. Picture: Dan Linehan

The significant increase in global bond yields last year resulted in a reduction in the value of assets in the Apple Escrow Fund which saw it lose €259m in value.

The €14.3bn fund was set up in 2016 after the Irish Government was ordered by the EU Commission to recover taxes and interest from the US tech giant, arguing Ireland gave Apple favourable tax terms.