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Apple wins court's ruling on EU's EUR 13bn tax order

Apple wins court's ruling on EU's EUR 13bn tax order

Mubasher: The European Union's (EU) general court has cancelled the 2016 order to Apple to pay EUR 13 billion ($14.9 billion) in Irish taxes, CNBC reported on Wednesday.

The court referred that the European Commission did not prove the Irish government's tax benefits granted to Apple.

In August 2016, the European Commission announced that Apple was provided with tax advantage of up to EUR 13 billion from Ireland, which is illegal under EU state aid rules for enabling the iPhone maker to pay less tax than other businesses.

"In fact, this selective treatment allowed Apple to pay an effective corporate tax rate of 1 per cent on its European profits in 2003 down to 0.005 per cent in 2014," the commission remarked in a statement at the time.

Hence, Ireland and Apple have appealed the order of the EU's executive arm to the US giant tech to repay EUR 13 billion taxes

Following the court's ruling today, Ireland, Apple, and the European Commission have two months to decide if they want to appeal the ruling and take it to the EU’s highest tribunal.

Commenting on the court's ruling, the European Commission said in a statement that it “will continue to look at aggressive tax planning measures under EU State aid rules to assess whether they result in illegal State aid.”

The commission added that it "will carefully study the judgment and reflect on possible next steps."