By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust authorities have said a court made legal mistakes when it overturned its order to iPhone maker Apple (NASDAQ 🙂 to pay 13 billion euros ($ 15.7 billion) in taxes. Irish latecomers, in a presentation to overturn the verdict. The stakes are high for the European Commission in its crackdown on what it sees as aggressive tax planning by multinationals. He has a mixed record to date, gaining legal backing in his case against Fiat Chrysler but losing in the Starbucks (NASDAQ 🙂 and Belgian tax exemption cases. The Commission is appealing to the Luxembourg-based Court of Justice of the European Union following a General Court ruling last year, which said the EU executive had failed to meet the legal standard required to show that Apple had enjoyed an unfair advantage. In its 2016 finding, the Commission said that two Irish tax rulings had artificially reduced Apple’s tax burden for more than two decades, which in 2014 was as low as 0.005%. “The failure of the General Court to take due account of the structure and content of the decision and the explanations of the Commission’s written submissions on the functions performed by Irish headquarters and branches constitutes an infringement of procedure” The Commission said in a presentation in the Official Gazette, The EU Competition Enforcer added: “The subsequent recognition by the General Court … that the decision examines the functions performed by Irish branches to justify the allocation of intellectual property licenses Apple’s reasoning constitutes contradictory reasoning, which amounts to stating reasons. ” Apple has said that the General Court ruling showed that it has always complied with Irish law, with the question more about where it should pay taxes than how much. The CJEU will hold a hearing on the case in the coming months. The case is C-465/20 P Commission / Ireland and others. ($ 1 = 0.8259 euros)
Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data. Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading financial markets, it is one of the riskiest investment forms possible.