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7/15, 11:17 AM (Source: TeleTrader)
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EU court annuls $14.9B Apple tax ruling

The European Union's General Court announced on Wednesday it is annulling the decision made by the European Commission in relation to the unpaid taxes of Apple Inc's subsidiaries Apple Sales International (ASI) and Apple Operations Europe (AOE).

The judiciary body said failed to prove the tech giant was given special treatment, asserting that "the correct amount of Irish tax was charged in line with normal Irish taxation rules."

"Ireland appealed the commission decision on the basis that Ireland granted no state aid and the decision today from the court supports that view," the court stated.

Breaking the News / MD