EU Court Orders Apple to Pay €13bn in Back Taxes

• The European Court of Justice has ruled that Apple must pay €13bn in back taxes to Ireland, overturning a previous lower court decision.
• The ruling confirms that Ireland provided unlawful aid to Apple through a tax deal that resulted in a tax rate of less than 1 percent.
• Apple has criticized the decision, claiming the EU is retroactively changing the rules and that their income was already taxed in the US.
• The case is seen as a significant moment in the EU's efforts to regulate Big Tech's tax arrangements.
• Separately, the EU won an antitrust case against Google, upholding a €2.4bn fine for abusing its market power.

Source: Financial Times