Apple Wins Fight Over $14.9 Billion Tax Bill in Blow To EU

Apple won its court fight over a record 13 billion-euro ($14.9 billion) Irish tax bill in a crushing blow to European Union Competition Commissioner Margrethe Vestagerâ(TM)s crackdown on preferential fiscal deals for companies. From a report: The judgment by the EU’s lower court on Wednesday vindicates Apple Chief Executive Officer Tim Cook’s challenge against a decision he labeled as “political crap.” While the EU General Court’s ruling can still be appealed, judges delivered a stinging attack on the European Commission for failing to show “to the requisite legal standard” that Ireland’s tax deal broke state-aid law by giving Apple an unfair advantage. “The commission’s intent seemed to be a political one: to punish Apple for its overall tax planning, rather than to reach a result that accorded with the legal or economic position,” Dan Neidle, a tax lawyer with Clifford Chance said in a statement. “The court has, quite rightly, followed the law and not any wider political objectives.”