Apple Loses Court Battle
Summary: Apple lost a legal battle with the European Union and is now required to pay €13 billion in back taxes to Ireland. The case centered on Apple’s use of the ‘Double Irish’ tax scheme, which allowed the company to reduce taxes by moving revenue between Irish subsidiaries. The European Court of Justice ruled against Apple, stating it had exploited tax loopholes unfairly. Ireland is expected to use the funds in a special investment fund, while Apple disputes the fairness of the ruling. The case underscores the EU’s efforts to ensure companies follow fair tax practices.
If you like this post, please share your feedback in the comments section below so that we will upload more posts like this.
