Just over two years after the European Commission ruled that Apple was receiving illegal state aid from Ireland — where it had reportedly paid less than 2 percent in taxes compared to the country’s headline 12.5 percent corporate tax rate — Apple has now paid back the entire 13.1 billion euros ($15.3 billion) it owed in back taxes (via Reuters).
The European Commission confirmed the payment this week, and furthermore said that EU antitrust regulators now plan to drop all legal action against Ireland. The EU had originally taken Ireland to court for failing to recover the $15.3 billion in tax due from Apple.
The confirmation of the [...]
The European Commission today announced it has approved Apple’s proposed acquisition of music recognition service Shazam.
„After thoroughly analyzing Shazam’s user and music data, we found that their acquisition by Apple would not reduce competition in the digital music streaming market,“ said Margrethe Vestager, European Commissioner for Competition.
The regulatory body concluded that Apple and Shazam mainly offer „complementary services“ and „do not compete with each other,“ and that a merged Apple-Shazam entity would not adversely affect competitors in the European Union:
In particular, access to [...]
Nearly one year after Qualcomm received a $773 million fine by Taiwan’s Fair Trade Commission regarding how the company prices smartphone chips and patents, Qualcomm this week reached a settlement agreement with the Taiwanese regulators that „reverses most“ of the $773 million fine.
In the settlement, Qualcomm will invest $700 million over the next five years to „boost research activities in Taiwan.“ The company will also stop paying fines and retains the right to charge manufacturers royalties on its technology. The Taiwanese regulators will keep around $89 million in fines already paid by Qualcomm and „waive the [...]
Apple will start paying 13 billion euros in back taxes to the Irish government from May, according to the Financial Times, nearly two years after the European Commission ruled that the company received illegal aid from the country that saw its tax bill significantly reduced over the past few decades.
As expected, the report states that Apple and the Irish government have reached an agreement to set up an escrow account to hold the money while both sides appeal the August 2016 ruling in Europe’s highest court. Once the amount has been received in full, additional interest payments will be calculated.
Ireland’s finance minister Paschal Donohoe today said [...]