Apple has won its appeal against paying $15 billion in back taxes to Ireland

Apple has won an appeal against paying $15 billion in back taxes to Ireland.

On Wednesday the EU Court of Justice annulled a European Commission order that forced Apple to pay 13 billion euros ($15 billion) in back taxes.

The order dates back to 2016, when the European Commission ruled Apple had benefitted from illegal state aid in Ireland.

The competition watchdog said at the time that Ireland had tailored tax laws that allowed Apple to pay artificially low corporate tax on its profits in Europe for more than 20 years. At one point, Apple paid a corporate tax rate of as little as 0.005% in 2014.

Apple and Ireland which has been able to attract big multinationals with its low tax rates both appealed the decision in September 2019. Apple began paying the back taxes into an escrow account in 2018, in the hope that it could recoup the cash if its appeal was successful.

This is a developing story...

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