Apple Loses EU Court Case Over $14.35 Billion Irish Tax Order-March 2024-www.financetom.com

Apple Loses EU Court Case Over $14.35 Billion Irish Tax Order

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Apple Loses EU Court Case Over $14.35 Billion Irish Tax Order

Sep 11, 2024 12:18 AM

04:51 AM EDT, 09/10/2024 (MT Newswires) -- Apple ( AAPL ) on Tuesday lost a court fight against European Union competition authorities as the EU's Court of Justice in Luxembourg backed a previous European Commission order for the company to pay 13 billion euros ($14.35 billion) in back taxes to Ireland.

EU competition regulators have been cracking down on member states offering global corporations tax relief to lure jobs.

"Ireland granted Apple ( AAPL ) unlawful aid which Ireland is required to recover," the court said in a statement, affirming a 2016 European Commission order.

Apple ( AAPL ) did not immediately reply to MT Newswires' request for comment.

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