Apple and Google Must Pay Billions in Back Taxes and Fines After E.U. Court Ruling

Tuesday, 10 September 2024, 02:41

Apple and Google are set to pay billions after the E.U. court ruled on back taxes and fines. Apple faces a $14.35 billion tax repayment, while Google is liable for $2.65 billion in antitrust penalties. This ruling marks a significant turn in corporate taxation and regulatory scrutiny within the E.U.
LivaRava_Finance_Default_1.png
Apple and Google Must Pay Billions in Back Taxes and Fines After E.U. Court Ruling

Major Ruling from the E.U. Court

The European Court of Justice ruling mandates that Apple repay approximately $14.35 billion due to illegal tax advantages in Ireland. Moreover, Google confirms its obligation towards a $2.65 billion antitrust fine.

Implications for Corporations

  • This decision signifies a shift in how corporations assess tax obligations.
  • The ruling impacts foreign investments and market strategies.
  • Expect heightened scrutiny on corporate tax practices across the E.U.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe