Apple’s Appeal Rejected: EU Orders Ireland to Collect 13 Billion Euro in Back Taxes

In a major blow to tech giant Apple, the company has lost its fight against a 13 billion euro tax order to Ireland. The European Union’s General Court ruled on Wednesday that Apple must pay the massive sum in back taxes, upholding a 2016 ruling that Ireland had granted the company illegal state aid through tax breaks.

The EU’s competition commissioner, Margrethe Vestager, hailed the decision as a victory for fair competition in Europe. “Today’s judgment by the General Court vindicates the Commission’s decision in 2016 that Ireland’s tax benefits to Apple were illegal state aid,” Vestager said in a statement.

Apple has long maintained that it complies with all tax laws and has vowed to appeal the decision. The company’s CEO, Tim Cook, has called the ruling “total political crap” and accused the EU of targeting American companies.

The case has been closely watched by tech companies and governments around the world, as it could set a precedent for how multinational corporations are taxed in the future. The ruling is a win for the EU, which has been cracking down on tax avoidance by large companies in recent years.

Despite the setback, Apple remains one of the world’s most valuable companies, with a market capitalization of over $2 trillion. The company has weathered controversies and legal battles in the past, and analysts say it is likely to bounce back from this latest setback.

Overall, the ruling is a reminder that even the biggest companies are not above the law when it comes to paying taxes. As the global economy becomes increasingly interconnected, governments and regulators are cracking down on tax avoidance and ensuring that companies pay their fair share.