Apple has been ordered to pay Ireland €13bn (£11bn; $14bn) in unpaid taxes by Europe’s top court, putting an end to an eight-year row.
The European Commission accused Ireland of giving Apple illegal tax advantages in 2016, but Ireland has consistently argued against the need for the tax to be paid.
The Irish government said it would respect the ruling.
Apple said it was disappointed with the decision and accused the European Commission of “trying to retroactively change the rules”.
A separate European Court of Justice (ECJ) ruling on Tuesday also brought a long-running case with Google to a close, with the company ordered to pay a €2.4bn (£2bn) fine for market dominance abuse.
$13B is 7% of Apple’s annual profit in 2022. Not a rounding error. Somebody has to settle for golden yachts instead of platinum next year.
This row stretches back 8 years, that person already sailed into the sunset on a platinum yatch. This year’s execs will get double platinum yatchs for finally putting this matter to rest.
Before you go yacht shopping, gold is worth double platinum.
162 billion in cash. I stand by my statement.
https://www.cnbc.com/2023/11/02/apple-now-has-162-billion-in-cash-on-hand-less-than-last-quarter.html