Technology
Apple wins $15 billion court battle with EU over Irish tax
After a long string of fines and legal setbacks in the EU, Apple can now chalk up one big win next to its name.
On Wednesday, the EU Court of Justice ruled in favor of Apple, annulling the European Commission’s decision that forced the company to pay back €13 billion ($14.9 billion) in back taxes to Ireland.
The Court decided that the European Commission “did not succeed in showing to the requisite legal standard” that Apple had a tax advantage in Ireland.
The European Commission said in 2016 that Ireland’s tax benefits to Apple were illegal and that they give the company an advantage over other businesses, forcing Apple to cough up the money to Ireland.
At the time of the original decision, Apple CEO Tim Cook called the Commission’s findings “wrongheaded,” saying he hoped a court would overturn the decision.
Presently, Apple said it was pleased with the court’s decision. “This case was not about how much tax we pay, but where we are required to pay it,” the company said in a statement.
The European Commission said it will study the judgment and think about next steps, but it generally aims to continue monitoring EU member states for aggressive tax planning, which may be considered illegal under EU law.
Read the statement by Executive Vice-President @vestager following today’s @EUCourtPress judgment on the Apple tax State aid case in Ireland.
We will carefully study the judgment and reflect on possible next steps. @EU_Competition
— European Commission ?? (@EU_Commission) July 15, 2020
“The Commission stands fully behind the objective that all companies should pay their fair share of tax. If Member States give certain multinational companies tax advantages not available to their rivals, this harms fair competition in the EU. It also deprives the public purse and citizens of funds for much needed investments — the need for which is even more acute during times of crisis,” the EU Commission’s executive vice president Margrethe Vestager said in a statement.
While the decision likely means Apple will continue to invest in Ireland, it does effectively mean that the country is losing $15 billion at a time when it has been stricken by a pandemic. The country’s finance ministry said it welcomes the Court’s judgment, claiming it has “always been clear that there was no special treatment” provided to Apple.
-
Entertainment6 days ago
When will we have 2024 election results online?
-
Entertainment5 days ago
Halloween 2024: Weekend debates, obscure memes, and a legacy of racism
-
Entertainment6 days ago
Social media drives toxic fandom. Is there a solution?
-
Entertainment5 days ago
Is ‘The Substance’ streaming? How to watch at home
-
Entertainment5 days ago
M4 MacBook Pro vs. M3 MacBook Pro: What are the differences?
-
Entertainment4 days ago
Menendez brothers case reignites online: The questions that keep resurfacing
-
Entertainment4 days ago
‘A Real Pain’ review: Jesse Eisenberg and Kieran Culkin charm as odd-couple cousins
-
Entertainment4 days ago
25 greatest sci-fi films on Hulu that you can watch right now