Apple And Ireland Challenge EU Over $14.4 Billion Tax Ruling

Apple and Ireland are challenging the EU over a $14.4 billion tax ruling

: Apple and the Irish government will this week appeal an European Commission ruling that the Cupertino-based tech giant saved $14.3 billion in taxes by striking a favorable deal with the Irish government.

EU antitrust chief, Margarethe Vestager levied the record tax bill on Apple in 2016 after arguing that Ireland had cut sweetheart deals that allowed Apple to avoid Ireland’s 12.5% corporate tax, already one of the lowest in the world, and instead pay rates as low as 0.005% In a quirk of EU rules - Ireland would receive a $14.3 billion windfall if the Vestager wins the case. The Irish government may prefer to maintain the close relationship that has seen Apple, and scores of other tech companies choose Dublin as an European headquarters.

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