Apple Wins Landmark 13 Billion Euro Tax Appeal Against the EU
Apple (NASDAQ: AAPL) has landed an important win in a tax case against the European Union (EU). The General Court of the European Union -- its second-highest court -- shot down a 2016 decision by the EU that handed Apple a bill for 13 billion euros in back taxes (about $14.85 billion at current exchange rates), alleging that the Irish government had provided the company with an unfair subsidy.
At the time, the European Commission -- the EU's antitrust regulator -- charged that Apple had been on the receiving end of illegal tax benefits granted by Ireland that allowed it to pay "substantially less tax than other businesses over many years," and ordered the country to recoup the unpaid taxes.
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Source Fool.com
