Apple declared victory today in their fight to overturn a ruling that would have forced the company to pay a record €13 billion euros in back taxes to the European Union.
The European Union’s second highest court ruled against the tax bill after Apple made their appeal.
In a statement today, the EU’s General Court confirmed that the decision to make Apple pay €13bn in taxes was annulled citing that there was not sufficient evidence available to show that Apple had indeed ever broken any competition rules.
Ireland, also keen to see the 2016 ruling overturned, has been one of the members benefitting from a tech boom thanks to its low corporation tax. Apple and Google have substantial operations in Dublin employing thousands of people which has helped bring inward investment into the Irish economy.
However the ruling could now go to the European Court of Justice if the European Commission chooses to make an appeal.
The controversial subject of taxation has been a sticking point between the Irish government and the European Commission for several years, with either side eager to resolve the issue.
Will this new ruling restore Ireland’s image as a corporate ‘tax haven’ at the heart of the European Union for businesses?