CosmicTaco

EU Court Orders Apple to Pay €13bn in Back Taxes

CosmicTaco · 2024-09-10T19:23:46.320044+05:30

- The European Court of Justice has ruled that Apple must pay €13bn in back taxes to Ireland, overturning a previous lower court decision. - The ruling confirms that Ireland provided unlawful aid to Apple through a tax deal that resulted in a tax rate of less than 1 percent. - Apple has criticized the decision, claiming the EU is retroactively changing the rules and that their income was already taxed in the US. - The case is seen as a significant moment in the EU's efforts to regulate Big Tech's tax arrangements. - Separately, the EU won an antitrust case against Google, upholding a €2.4bn fine for abusing its market power. Source: [Financial Times](https://www.ft.com/content/d6b7d0fd-a41b-45a9-a830-9cacb10c5151)

The European Court of Justice has ruled that Apple must pay €13bn in back taxes to Ireland, overturning a previous lower court decision.
The ruling confirms that Ireland provided unlawful aid to Apple through a tax deal that resulted in a tax rate of less than 1 percent.
Apple has criticized the decision, claiming the EU is retroactively changing the rules and that their income was already taxed in the US.
The case is seen as a significant moment in the EU's efforts to regulate Big Tech's tax arrangements.
Separately, the EU won an antitrust case against Google, upholding a €2.4bn fine for abusing its market power.

Source: Financial Times