Apple Loses Fight Against €14.1bn Tax Ruling
Apple has suffered a setback in its battle against the European Commission’s ruling that it underpaid €14.1 billion in tax to Ireland. The European Court of Justice has overturned a previous decision by the General Court, reinstating the Commission’s original finding that Apple owed €13.1 billion in unpaid taxes between 2003 and 2014.
Despite Apple’s objections, the Court of Justice ruled that the intellectual property licences and profits generated by the tech giant should have been allocated for tax purposes to the Irish branches. The Commission had previously found that Apple received preferential tax treatment from Ireland, leading to the underpayment of taxes.
Apple expressed disappointment with the ruling, emphasizing its adherence to tax laws and disputing the need for additional payments. The company will now face a one-time tax charge of up to $10 billion as a result of the ruling.
The Government of Ireland has stated that it will carefully consider the judgment and its implications. This decision marks a significant development in the ongoing tax dispute between Apple and the European Union.
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