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EU Court Rules In Favor Of Apple In Tax State Aid Case In Ireland

(RTTNews) - The European Union's General Court has overturned the European Commission's August 2016 ruling which found Apple had been granted illegal tax breaks by Ireland government.

"We will carefully study the judgment and reflect on possible next steps," the European Commission said in a statement.

The tech giant reportedly does not need to pay Ireland 13 billion euros in back taxes after winning an appeal at the court.

The commission said it will continue to look at aggressive tax planning measures under EU State aid rules to assess whether they result in illegal State aid. At the same time, State aid enforcement needs to go hand in hand with a change in corporate philosophies and the right legislation to address loopholes and ensure transparency.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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