{"id":1488992,"date":"2024-09-10T13:45:00","date_gmt":"2024-09-10T17:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1488992"},"modified":"2024-09-10T13:45:00","modified_gmt":"2024-09-10T17:45:00","slug":"big-win-eus-vestager-celebrates-as-apple-loses-e13bn-ireland-tax-bill-case","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/big-win-eus-vestager-celebrates-as-apple-loses-e13bn-ireland-tax-bill-case\/1488992\/","title":{"rendered":"“Big Win”:\u00a0EU’s Vestager Celebrates As Apple Loses \u20ac13bn Ireland Tax Bill Case"},"content":{"rendered":"

“Big Win”:\u00a0EU’s Vestager Celebrates As Apple Loses \u20ac13bn Ireland Tax Bill Case<\/span><\/p>\n

\n

Outgoing EU competition chief Margrethe Vestager scored a major victory on Tuesday\u00a0after the European Court of Justice (ECJ) ruled against Apple in the decade-long battle over the tech giant’s “sweetheart” tax\u00a0affairs in Ireland.\u00a0<\/p>\n

“Today is a big win for European citizens and for tax justice. The Court of Justice confirms that Ireland granted Apple unlawful aid which Ireland now has to recover, and the Commission’s decision in the Google Shopping antitrust case,”\u00a0<\/strong>Vestager said in a press conference on Tuesday.\u00a0<\/p>\n

“Today is a big win for European citizens and for tax justice.<\/p>\n

The Court of Justice confirms that Ireland granted Apple unlawful aid which Ireland now has to recover, and the Commission’s decision in the Google Shopping antitrust case.”<\/p>\n

\u2014 Executive Vice President @vestager<\/a> pic.twitter.com\/1Fko0F66S2<\/a><\/p>\n

\u2014 European Commission (@EU_Commission) September 10, 2024<\/a><\/p>\n

The European Commission first investigated Apple’s tax payments in Ireland in 2014. By 2016, the Commission demanded\u00a0Dublin to recover\u00a013 billion euros ($14.4 billion) in back taxes from\u00a0the US-based company.\u00a0In 2019, Apple appealed\u00a0the Commission’s decision, and in 2020, the EU General Court ruled in Apple’s favor. The EU’s second-highest court rejected the\u00a0Commission’s 2016 decision and said that the executive arm\u00a0did not demonstrate that the Irish government had given Apple a tax advantage. Like a game of ping-pong,\u00a0the\u00a0Commission appealed the\u00a0General Court’s decision, which ultimately sent the\u00a0litigation to the ECJ for final ruling.\u00a0<\/p>\n

<\/a><\/p>\n

“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,”<\/strong> the\u00a0Luxembourg-based court said, adding Apple’s two\u00a0Ireland-based companies enjoyed\u00a0favorable tax treatment\u00a0compared to resident companies taxed in Ireland.\u00a0<\/p>\n

Apple previously stated that from\u00a02003 to 2014, it paid\u00a0$577 million in tax, 12.5% of the profit generated in the country, which is in line with tax laws.\u00a0<\/p>\n

“The European Commission is trying to retroactively change the rules and ignore that, as required by international tax law, our income was already subject to taxes in the US. We are disappointed with today’s decision as previously the general court reviewed the facts and categorically annulled this case,” Apple wrote in a statement to The Guadrian.<\/p>\n

Bloomberg Intelligence’s Anurag Rana and Andrew Girard weighed in on\u00a0Apple’s defeat:\u00a0<\/p>\n

“The EU top court’s reinstatement of a \u20ac13 billion tax penalty against Apple doesn’t pose significant operational threat. Apple put the sum in escrow after the 2016 ruling, and disclosed nearly $62 billion in cash and marketable securities in 3Q. Ireland has tightened the tax program that underpinned the EU’s decision, leaving little risk of further action. Pending EU inquiries into the App Store, brought under a new legal regime, pose a more tangible challenge as they are likely to force Apple to open its walled ecosystem.”<\/em><\/p>\n

Apple shares in premarket trading in New York were down a little over 1%.\u00a0<\/p>\n

<\/a><\/p>\n

EJC’s ruling comes one day after Apple debuted the new iPhone 16 models and other upgraded devices. Some Wall Street analysts called the launch event ‘uninspiring’ and questioned if the new iPhone will ignite a\u00a0big refresh cycle<\/a>.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 09\/10\/2024 – 09:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/technology\/big-win-eus-vestager-celebrates-apple-loses-eu13bn-ireland-tax-bill-case<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

“Big Win”:\u00a0EU’s Vestager Celebrates As Apple Loses \u20ac13bn Ireland Tax Bill Case Outgoing EU competition chief Margrethe Vestager scored a major victory on Tuesday\u00a0after the…<\/p>\n","protected":false},"author":0,"featured_media":1488993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1488992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6fm0","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/09\/2024-09-10_07-53-21-nOLrYo.png","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1488992"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1488993"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1488992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1488992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1488992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}