Apple Loses Major Tax Dispute in Europe, Must Pay Ireland €13 Billion

Quick Summary:

The European Union's Court of Justice today said it has confirmed the European Commission's 2016 decision that Ireland had given illegal tax benefits worth €13 billion to Apple from 1991 to 2014.

The 2016 Decision Following a three-year inquiry, the European Commission in 2016 found that Apple paid between 0.005% and 1% in taxes in Ireland between 2003 and 2014, compared to the country's headline 12.5% corporate tax rate during that period.

Ireland's government had sided with Apple in its attempt to appeal the decision, but today it said it will "respect" the Court of Justice's findings and recover the €13 billion from Apple that is considered to be illegal state aid.

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Article Details

Author / Journalist: Joe Rossignol

Category: Technology

Markets: United StatesIreland

Topics: European Court Iphone Justice Decision Commission Ireland Airpods Models Apple Profits

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 06:08:01 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: macrumors.com

Language: English

Article Length: 1260 words

Reading Time: 7 minutes read

Sentences: 57 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © MacRumors

News ID: 22449424

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