AAPL
EU appeals Apple tax ruling to European Court of Justice
- The European Commission is taking its case against Apple (NASDAQ:AAPL)
to the highest court in Europe, appealing an EU general court decision
from
July that ruled in favor of Ireland and the tech giant.
- Seeking to crack down on "sweetheart tax deals," the Commission
sparked the case by ordering Apple to pay $14.4B in back taxes (that have
been held in escrow while appeals process plays out).
- The EC now intends to argue that the court set the bar for requisite
standards "unreasonably high," a precedent that will be specifically
watched given the EU's drive to create new tax laws governing major
technology companies.
- "The General Court categorically annulled the Commission's case in
July and the facts have not changed since then. This case has never been
about how much tax we pay, rather where we are required to pay it," an
Apple spokesperson responded. "We will review the Commission's appeal
when we receive it, however it will not alter the factual conclusions of
the General Court, which prove that we have always abided by the law in
Ireland, as we do everywhere we operate."
|Today, 6:38 AM|20 Comments
EU appeals Apple tax ruling to European Court of Justice
- The European Commission is taking its case against Apple (NASDAQ:AAPL)
to the highest court in Europe, appealing an EU general court decision
from
July that ruled in favor of Ireland and the tech giant.
- Seeking to crack down on "sweetheart tax deals," the Commission
sparked the case by ordering Apple to pay $14.4B in back taxes (that have
been held in escrow while appeals process plays out).
- The EC now intends to argue that the court set the bar for requisite
standards "unreasonably high," a precedent that will be specifically
watched given the EU's drive to create new tax laws governing major
technology companies.
- "The General Court categorically annulled the Commission's case in
July and the facts have not changed since then. This case has never been
about how much tax we pay, rather where we are required to pay it," an
Apple spokesperson responded. "We will review the Commission's appeal
when we receive it, however it will not alter the factual conclusions of
the General Court, which prove that we have always abided by the law in
Ireland, as we do everywhere we operate."
|Today, 6:38 AM|20 Comments
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