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

How common is copyright infringement in fast fashion?

May 31, 2023

Growing the right way

August 20, 2024

Key considerations for succession planning for business owners

September 2, 2022

Getting to Know You: Seb Robert, CEO &...

July 2, 2024

Economic climate holding back sustainability strategy for seven-in-ten...

November 21, 2022

Biggest tech trends for businesses in 2023 according...

February 8, 2023

What services do digital agencies provide?

January 13, 2023

Why RTP Matters: How Return to Player Rates...

September 26, 2024

Nearly a third of the world’s biggest news...

September 19, 2023

Celebrating Old Reptonians Who Fought in the Battle...

December 21, 2022

    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

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • 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