Apple taxes
Apple no longer has to pay Ireland €13 billion in unpaid taxes.
The 2016 ruling by the European Commission has been reversed following an appeal by both Ireland and Apple.
The General Court of the European Union has annulled the ruling that directed Ireland to collect 13 billion euro in unpaid taxes from Apple.
#EUGeneralCourt annuls the decision taken by the @EU_Commission regarding the Irish #TaxRulings in favour of @Apple #Apple #EUCommission #StateAid pic.twitter.com/KoF6r1n82S
— EU Court of Justice (@EUCourtPress) July 15, 2020
It found that the Commissions' assessment that Apple received preferential treatment by Ireland was wrong.
In a statement, the Commission said they'll now take time to 'reflect on possible next steps'.
They explained: "The Commission stands fully behind the objective that all companies should pay their fair share of tax."
"If Member States give certain multinational companies tax advantages not available to their rivals, this harms fair competition in the EU."
"It also deprives the public purse and citizens of funds for much needed investments – the need for which is even more acute during times of crisis."
In 2016, the Commission found Ireland breached state aid rules by giving Apple unfair tax benefits.
It ordered Ireland to recover the money plus interest - but both Ireland and Apple appealed the ruling.
The Department of Finance has welcomed the decision by the General Court.
