Europe’s top court ruled against Apple in a decade-long battle over tax affairs in Ireland, ordering the tech giant to pay back billions in back taxes. The decision comes after Apple unveiled new products, causing its shares to drop. The Irish government stated they do not provide preferential tax treatment. Apple plans to incur a $10 billion income tax charge due to the ruling. The case is part of ongoing conflict between U.S. tech giants and the EU, with Apple facing previous antitrust fines and scrutiny. This ruling represents a larger effort by the EU to regulate tech companies’ practices in Europe.
https://www.cnbc.com/2024/09/10/apple-loses-eu-court-battle-over-13-billion-euro-tax-bill-in-ireland.html