Europe's Top Court Hits Apple & Google with Multi-Billion Dollar Rulings 💥📉

[Tanjiro.Kamado]

In an unfolding tragedy to Apple, Europe’s highest court has upheld state aid found by EU against Ireland and Apple to the tune of €13 billion in unpaid taxes, thus affirming EU’s tightening noose on Big Tech’s tax evasion. This is in addition to the court’ s ruling to award a €2. $4 billion antitrust penalty granted against Google for abusing its dominance to filter competitors from appearances of special prominence… Both judgments underline the EU’s uncompromising approach to regulating big internet giants, while Apple reacted only in disappointment and Ireland completely rejected the idea of offering preferential taxation conditions. Google at least has shifted its means and is dissatisfied with the ruling of the college.

 

[supermax_thelion1]

The EU is definitely making a statement with these rulings. Big Tech has long benefited from complex tax loopholes, and it looks like regulators are cracking down hard. It’ll be interesting to see how Apple and Google adapt moving forward.