Apple to face first fine under EU's Digital Markets Act for Big Tech

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Apple to face first fine under EU's Digital Markets Act for Big Tech - Business Standard

Quick Summary:

The European Commission could still unleash the fine before current EU competition commissioner Margrethe Vestager is due to leave office later this month, according to the people.

Under the law, EU regulators have powers to fine the world’s most powerful tech firms 10% of their global annual sales, 20% in the event of repeated infringements, or periodic fines of as much as 5% of the average daily revenue.

Vestager also grabbed the headlines when she ordered Apple to repay €13 billion in allegedly unfair tax breaks from Ireland.