Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Apple loses €13 billion tax battle in landmark EU court ruling

by September 10, 2024
September 10, 2024
Apple loses €13 billion tax battle in landmark EU court ruling

Apple has suffered a major setback in its long-running tax dispute with the European Union, as the European Court of Justice ruled that Ireland had granted the tech giant “unlawful state aid.”

This landmark decision, which overturns a previous ruling in Apple’s favour, orders Ireland to recover €13 billion from the company, a sum that had been held in escrow.

The case, initiated in 2016 by Margrethe Vestager, the EU’s competition commissioner, argued that Apple received illegal state aid through sweetheart tax deals with Ireland. These arrangements allowed Apple to exclude profits made outside the United States from Irish tax, routing them through two Irish subsidiaries.

Experts say the ruling has significant implications for multinational corporations and EU member states, particularly in how they apply transfer pricing to allocate profits between jurisdictions. The decision underscores the EU’s readiness to challenge Big Tech’s tax practices and sends a clear message that preferential tax treatments are no longer tolerated.

While Ireland has downplayed the ruling as being of “historical relevance,” it will proceed with releasing the funds from the escrow account. Vestager hailed the decision as a victory for European citizens and tax justice, reinforcing her commitment to combating harmful tax competition.

This judgement coincides with another win for Vestager, as Europe’s top court upheld a €2.4 billion fine against Google for anti-competitive practices, further demonstrating the EU’s resolve to regulate the activities of tech giants.

Read more:
Apple loses €13 billion tax battle in landmark EU court ruling

0
FacebookTwitterGoogle +Pinterest
previous post
House honoring 13 US service members killed in 2021 Abbey Gate bombing during Afghanistan withdrawal
next post
A Disaster for Innovation – The Research and Development Relief Perfect Storm

You may also like

Elon Musk to buy Twitter for original offer...

October 5, 2022

Labour to Override Councils for Data Centres on...

June 10, 2024

Unlocking Global Opportunities: A Comprehensive Guide to E-2...

January 10, 2025

UK SMEs fear ‘cliff-edge’ energy bills in April,...

November 14, 2022

How to Use Humanize.io to Bypass Turnitin Effectively...

January 20, 2025

Bank of England losses cost Government £45bn as...

July 31, 2024

UK Food Price Inflation Hits Nearly Two-Year Low...

February 27, 2024

Openreach scales back UK ultrafast fibre broadband

November 24, 2022

British solar innovator Naked Energy opens £30m funding...

September 25, 2023

University Living Launched Visa Assistance Service

January 24, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Harmony Squad: Supreme Court Issues Six Unanimous Decisions

      June 5, 2025
    • Quick Login to AmourFactory: A Beginner’s Guide

      June 5, 2025
    • Disabling Trump’s “Tariff Button”

      June 5, 2025
    • ‘Sick puppy’ Tim Walz should never have been on Dems’ 2024 ticket, Trump says

      June 5, 2025
    • Federal judge orders Trump to restore funding to Clinton-era agency gutted by DOGE

      June 5, 2025
    • Musk says Trump would have lost 2024 election without him as ‘Big Beautiful Bill’ feud continues

      June 5, 2025

    Categories

    • Business (8,149)
    • Investing (2,011)
    • Politics (15,535)
    • Stocks (3,128)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved