Reportedly, this week Dow 30 component Apple (AAPL) triumphed against European Commission over its dispute of non-payment of 13 billion euros in Irish taxes. The European Commission failed to substantiate that the Irish government had given the company a tax advantage, after its claimed in August 2016 that the Irish government granted illegal benefits to Apple over tax payments and ordered recovery of 13 billion euros in unpaid taxes.
The commission claimed that Ireland had enabled Apple to benefit with”substantially less tax than other businesses over many years,” implying that Apple was allowed to pay an effective corporate tax rate of 1% on its European profits in 2003, which dropped to 0.005% in 2014.
The involved parties now have two months to decide if they want to appeal the latest ruling and push it further to the EU’s highest tribunal.
The Irish Government stated, “the correct amount of Irish tax was charged taxation in line with normal Irish taxation rules.There was no special treatment provided to the two Apple companies.”
The European Commission said in a statement it “will continue to look at aggressive tax planning measures under EU State aid rules to assess whether they result in illegal State aid. It added that it “will carefully study the judgment and reflect on possible next steps.”
Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.
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