Apple Risks $14 Billion Tax Bill in Setback at Top EU Court
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Apple Inc. risks having to pay a €13 billion ($14 billion) tax bill to Ireland after an adviser to the European Union's top court said the iPhone maker's victory in an earlier challenge should be thrown out.Advocate General Giovanni Pitruzzella of the EU Court of Justice said in an advisory opinion that Apple's win in a lower EU court should be re-examined because it was riddled with legal mistakes. The top EU tribunal is set to issue its binding ruling in the landmark state-aid dispute in the coming months and follows such advice in the majority of cases. “In the light of the errors of law committed by the General Court, which vitiate its assessments” the challenge should be “set aside in its entirety,” Pitruzzella said. Apple shares fell 0.2% at 10:32 a.m. in New York. We are ...