Official announcements from the European Commission, financial news outlets

EU Court Orders Apple to Pay $14.4 Billion in Back Taxes, Upholds Google’s €2.4 Billion Fine

Sep 10, 2024, 08:03 AM

The European Union's top court has ruled against Apple in a long-running tax dispute, ordering the tech giant to pay €13 billion ($14.4 billion) in back taxes to Ireland. The ruling upholds the European Commission's 2016 decision that Ireland granted Apple illegal state aid through preferential tax arrangements. Apple expressed disappointment with the ruling, arguing that EU regulators were retroactively changing rules. The process of transferring the assets in the escrow account to Ireland will now commence. This decision marks a significant victory for the EU's campaign against special deals for multinational companies. Additionally, the court upheld a €2.4 billion ($2.7 billion) fine against Google for antitrust violations related to its shopping service, rejecting Google's appeal and reinforcing the EU's stance on regulating big tech companies.