The Commission will challenge a case ruling involving the Republic of Ireland and Apple, according to press and EU press release. Ireland’s tax benefits of 13 billion euros ($ 15.17 billion) to Apple were illegal per EU state rules. EU General Court ruled that the Commission did not prove Irish government gave tax advantages to Apple. The EU Commission will take the case to Europe’s highest court.
- EU will use all tools to compel companies to “pay their fair share of tax”- Margrethe Vestager, EU’s competition Chief.
- General Court raised critical legal issues, but the Commission considers errors in judgment
- July ruling challenged the Commission’s use of state aid policy to challenge non-competitive deals, and has to produce more evidence in those situations.
- Irish government and Apple contested Commission allegations.
- Apple said it abides by Irish tax laws and issues related to where it should pay taxes rather than amount.
- Apple will review the Commission’s appeal, but will not change General Court’s factual conclusions.
Apple stock trading unaffected by EU Commission accusations. AAPL: NASDAQ is up 1.03%