EU appeal seeks to force Apple to pay $14.3 billion tax clawback appeared first on MacDailyNews. EU appeal seeks to force Apple to pay $14.3 billion tax clawback appeared first on MacDailyNews. EU appeal seeks to force Apple to pay $14.3 billion tax clawback appeared first on MacDailyNews. EU appeal seeks to force Apple to pay $14.3 billion tax clawback appeared first on MacDailyNews.
Competition regulators on Tuesday appealed to European Union’s highest court to override a lower tribunal and force Apple to pay a record 13 billion euros ($14.3 billion) in an Irish

Competition regulators on Tuesday appealed to European Union’s highest court to override a lower tribunal and force Apple to pay a record 13 billion euros ($14.3 billion) in an Irish tax clawback.

Apple logo

Reuters:

The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager’s campaign against sweetheart deals between multinationals and European Union states.

The European Commission in a 2016 decision said two Irish tax rulings had for more than two decades artificially reduced Apple’s tax burden, which was as low as 0.005% in 2014. The General Court in 2020 said regulators had not met the legal standard to show Apple had enjoyed an unfair advantage.

Apple refuted the Commission’s arguments, saying it had paid its fair share of taxes in the appropriate country. “The profits we are talking about – the profits the Commission said should be attributed to these branches in Ireland – those profits were in fact subject to the U.S. tax regime,” Daniel Beard told the Court. “Apple built up reserves for the payment of those U.S. taxes and is paying around 20 billion euros in tax in the U.S. on those very same profits that the Commission says should have been taxed by Ireland,” he said. “Apple has paid the taxes that were due under the Irish tax code.”

MacDailyNews Take: The EU’s appeal deserves to fail.

Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post EU appeal seeks to force Apple to pay $14.3 billion tax clawback appeared first on MacDailyNews.

original link


You may also be interested in this

iPhone 15 to Support 15W …

Apple's upcoming iPhone 15 models will support 15W wireless fast charging even when using third-party chargers that are not MagSafe certified, claims a new rumor coming out of China. Apple's

Foxconn purchased massive…

Foxconn is expanding its production in India and Vietnam, with the Apple assembly partner acquiring large stretches of land in both countries.A Foxconn facilityAs a global supply chain partner, Foxconn

Apple Watch Ultra with re…

Apple’s plans to release an updated version of the Apple Watch Ultra with a next-generation microLED display have been delayed again due to manufacturing challenges, according to market research firm

Demand for refurbished iP…

Demand for pre-owned iPhones has soared in India, with iPhone 12 and newer 5G models "selling like hot cakes." (via Cult of Mac - Tech and culture through an Apple

The iPhone 15 is almost h…

Macworld With WWDC behind us and summer in full swing, it won’t be long before the iPhone 15 is upon us. It’s still about two months away, but the rumor

Tim Cook visits Cannes fo…

Apple CEO Tim Cook has been spotted in Cannes, attending the film festival at the same time the Martin Scorsese film "Killers of the Flower Moon" made its debut.Lily Gladstone

How could Apple shape the…

In the ever-evolving landscape of technology and innovation, Apple stands at the forefront, setting trends and influencing industries. As the company continues to chart new territories, the role of its

Apple increases the trade…

Macworld Apple on Thursday increased the maximum value of trade-ins for iPhones, iPads, Apple Watches, and Macs. Overall, the values haven’t gone up significantly–only $30/£25 at the most, and only
X

A whimsical homage to the days in black and white, celebrating the magic of Mac OS. Dress up your blog with retro, chunky-grade pixellated graphics to evoke some serious computer nostalgia. Supports a custom menu, custom header image, custom background, two footer widget areas, and a full-width page template. I updated Stuart Brown's 2011 masterpiece to meet the needs of the times, made it responsive , got dark mode, custom search widget and more.You can download it from tigaman.com, where you can also find more useful code snippets and plugins to get even more out of wordpress.