In a highly anticipated decision, the European Union’s second highest court has ruled that a tax deal struck between the U.S. tech giant Apple and Irish tax authorities almost two decades ago did not violate EU state aid rules.
In a decision handed down on Wednesday, the Luxembourg-based EU General Court also quashed the 2016 state aid order that set the years long legal fight between the Cupertino, California-based company and European competition authorities in motion. The decision means that Apple will not have to pay €13.1 billion – with €1.2 billion in interest – in back taxes to the Irish tax authorities, as the Commission ordered it to in 2016.
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