Apple spars with EU as $14B Irish tax dispute drags on

  • LUXEMBOURG – Apple accused the European Commission of misunderstanding its business on day two of the iPhone maker’s appeal against a $14 billion tax order, in a dispute that is key to the EU’s drive to collect more taxes but which could also run for years.
  • The case centers on tax rulings granted by Ireland to two Apple businesses in the country, Apple Sales International and Apple Operations Europe, which reduced Apple’s tax burden for more than two decades – to as low as 0.005% in 2014.
  • Ireland ended the tax rulings when Apple’s two Irish units changed their structures in 2015.
  • The court will rule on the Apple case in the coming months, but the losing party is likely to appeal to the EU Court of Justice and a final judgment could take several years.

Read full article: canoe.com