The Daily Populous Tuesday September 10th, 2024 evening edition
Authored by cnbc.com and submitted by Halunner-0815

Europe's top court ruled against Apple on Tuesday in the tech giant's 10-year court battle over its tax affairs in Ireland. The case stems back to 2016 when the European Commission ordered Ireland to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple.

The European Court of Justice's decision comes hours after the company unveiled new products to revitalize its iPhone, Apple Watch and AirPod lineups.

Apple shares were down about 1%.

In a statement, the Irish government said that the Apple case "involved an issue that is now of historical relevance only," adding that its position has always been that it "does not give preferential tax treatment to any companies or taxpayers."

Apple said in a filing on Tuesday that it will incur a one-time income tax charge of about $10 billion in its fourth fiscal quarter ending Sept. 28, 2024.

The government noted it will now begin the process of transferring the assets in the escrow fund to Ireland.

"This case has never been about how much tax we pay, but which government we are required to pay it to. We always pay all the taxes we owe wherever we operate and there has never been a special deal," an Apple spokesperson said. "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."

Aikuma- on September 10th, 2024 at 10:50 UTC »

> Europe’s top court on Tuesday ruled against Apple in the tech giant’s 10-year court battle over its tax affairs in Ireland.

> The case stems back to 2016 when the European Commission ordered Ireland to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple.

What about their taxes since then?

TDK_90 on September 10th, 2024 at 09:39 UTC »

Lol imagine getting away with not paying that much in taxes.

Stev-svart-88 on September 10th, 2024 at 09:39 UTC »

13 billion € = 14% annual profits

Well done EU, now go after X.