Apple Scores EU Tax Victory

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CBJ — Technology giant Apple Inc. has been handed a big victory overseas after Europe’s second-highest court rejected an EU order for the iPhone maker to pay $15 billion in Irish back taxes.

The decision is viewed as a major setback for the EU in it’s attempts to crack down on exceedingly generous tax deals for large corporations.

The surprise ruling puts Ireland’s tax system back in the spotlight at a very difficult time. With attempts to obtain a global agreement on taxing multinationals buckling, plans for an EU tax could be revived, putting Dublin’s low rates in the firing line.

Multinationals, attracted by Ireland’s low taxes, employ nearly 250,000 people in the country, accounting for 10% of all workers in 2019.

@CanBizJournal

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