Apple Must Pay $14.4 Billion to Ireland in Crackdown On ‘Sweetheart Deals’

Quick Summary:

The European Court of Justice has ordered Apple to pay billions in back taxes to Ireland, in a move that hands a victory to the European Commission against so-called sweetheart deals’ between the country and big tech companies.

According to Daly, the ECJ decision is “not good for Ireland.” “Ireland has always tried to position itself as a country that provides generous tax rules but rules that are fair,” he says.“This certainly has harmed Ireland Inc.

Notably, in the Fiat and Amazon cases, which were decided in 2022 and 2023 respectively, the ECJ ruled that similar deals struck in Luxembourg did not amount to state aid.“While this ruling will force [Apple] to pay its debt, the root of the issue is far from solved,” she says.“EU tax havens can still make sweetheart tax deals with big multinationals. The duty to stop this rests on the shoulders of EU policymakers.

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Article Details

Author / Journalist: Margaret Taylor

Category: TechnologyEconomy

Markets: United StatesBrazilIrelandLuxembourg

Topics: Apple Taxes Textaboveleftsmall Lawsuit Europe Business Web

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 11:31:57 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 1107 words

Reading Time: 7 minutes read

Sentences: 37 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © Wired

News ID: 22448479

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