Apple, maker of the iPhone, appealed to the Luxembourg-based General Court a year ago after the European Commission ruled that its “sweetheart” tax deal with Ireland was an illegal subsidy in breach of EU rules against unfair competition. Apple’s CEO says developers have earned $17 billion from China App StoreThe then Obama administration had criticized the EU decision, saying the EU was helping itself to cash that should have ended up in the United States. The US intervention was filed in April, a move to which the Commission objected. The court said it was unconvinced by the US arguments regarding the alleged negative effects of the EU decision on its tax revenues, the bilateral tax deals with EU countries and its efforts to develop rules on transfer pricing in line with OECD rules. It said IBEC had failed to show that its members’ interests would be affected by the result of the case.

Source: The Express Tribune December 16, 2017 10:07 UTC