AIRLINK 74.20 Decreased By ▼ -0.40 (-0.54%)
BOP 5.10 Decreased By ▼ -0.04 (-0.78%)
CNERGY 4.45 Decreased By ▼ -0.05 (-1.11%)
DFML 33.78 Increased By ▲ 0.78 (2.36%)
DGKC 88.55 Decreased By ▼ -0.35 (-0.39%)
FCCL 22.25 Decreased By ▼ -0.30 (-1.33%)
FFBL 32.30 Decreased By ▼ -0.40 (-1.22%)
FFL 9.83 Decreased By ▼ -0.01 (-0.1%)
GGL 10.78 Decreased By ▼ -0.10 (-0.92%)
HBL 115.70 Increased By ▲ 0.39 (0.34%)
HUBC 136.01 Decreased By ▼ -0.62 (-0.45%)
HUMNL 9.80 Decreased By ▼ -0.17 (-1.71%)
KEL 4.61 Decreased By ▼ -0.02 (-0.43%)
KOSM 4.71 Increased By ▲ 0.01 (0.21%)
MLCF 39.90 Increased By ▲ 0.20 (0.5%)
OGDC 138.45 Decreased By ▼ -0.51 (-0.37%)
PAEL 26.05 Decreased By ▼ -0.84 (-3.12%)
PIAA 26.25 Increased By ▲ 1.10 (4.37%)
PIBTL 6.70 Decreased By ▼ -0.14 (-2.05%)
PPL 122.99 Increased By ▲ 0.25 (0.2%)
PRL 26.70 Decreased By ▼ -0.31 (-1.15%)
PTC 13.97 Decreased By ▼ -0.03 (-0.21%)
SEARL 59.22 Decreased By ▼ -0.25 (-0.42%)
SNGP 70.30 Decreased By ▼ -0.85 (-1.19%)
SSGC 10.39 Decreased By ▼ -0.05 (-0.48%)
TELE 8.57 Decreased By ▼ -0.08 (-0.92%)
TPLP 11.33 Decreased By ▼ -0.18 (-1.56%)
TRG 64.58 Decreased By ▼ -0.55 (-0.84%)
UNITY 26.22 Increased By ▲ 0.42 (1.63%)
WTL 1.40 Decreased By ▼ -0.01 (-0.71%)
BR100 7,813 Decreased By -6.3 (-0.08%)
BR30 25,475 Decreased By -102.3 (-0.4%)
KSE100 74,675 Increased By 10.7 (0.01%)
KSE30 24,079 Increased By 7.3 (0.03%)

Apple went on the offensive against Brussels in an EU court on Tuesday, fighting the European Commission's landmark order that the iPhone-maker reimburse Ireland 13 billion euros ($14 billion) in back taxes. The EU's tax demand, delivered in 2016, "defies reality and common sense," Apple's lawyer Daniel Beard told the EU's lower General Court.
The commission's "conclusion... is wrong," he added. The commission's historic decision was delivered in August 2016 by Competition Commissioner Margrethe Vestager, a shock decision that put Europe at the forefront of an emerging effort to rein in the power of US big tech. Lawyers for the world's biggest company faced EU officials in the Luxembourg court, challenging a decision that CEO Tim Cook slammed at the time as "total political crap".
Ireland, which is similarly appealing against the decision, also testified at the start of two days of hearings, and lashed out at the EU's "astonishing" interpretation of tax law.
"The Commission decision simply ignores Irish laws," Ireland's representative Maurice Collins told judges. The EU accuses Apple of parking untaxed revenue earned in Europe, Africa, the Middle East and India in Ireland, which has become a European hub for US-based big tech.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.