Breaking News: Apple Ordered to Pay €13bn in Unpaid Taxes to Ireland - European Court of Justice Ruling
In a groundbreaking decision, the European Court of Justice (ECJ) has ordered tech giant Apple to pay back €13bn in unpaid taxes to Ireland. This decision comes after the EU Commission accused Ireland of granting Apple illegal tax advantages eight years ago.
The court stated, “The Court of Justice gives final judgment in the matter and confirms the European Commission’s 2016 decision: Ireland granted Apple unlawful aid which Ireland is required to recover.”
This ruling is a result of a lengthy legal process that began in 1991 and covered the period up to 2014. It relates to the tax treatment of profits generated by two Apple subsidiaries in Ireland, which were deemed illegal due to the unfair advantages they provided.
The original ruling was overturned by a lower court in 2020 but has now been reinstated by the higher court, citing legal errors in the previous decision. This means Ireland must now recover the lost taxes from Apple, despite years of legal battles to avoid it.
This news comes just a day after Apple released its new iPhone 16 range, adding another layer of complexity to the situation. The BBC has reached out to Apple for comment on the matter.
In conclusion, this ruling has far-reaching implications for multinational companies and their tax practices. It highlights the importance of fair and transparent tax policies and the consequences of attempting to circumvent them. Investors and consumers alike should pay attention to how this decision may impact Apple's financial standing and future strategies.