Apple, the world’s largest iPhone maker, has won a record 1.12 lakh crore (13 billion euros) tax bill against the European Union.
An EU court has ruled in favor of Apple, saying the European Commission has failed to say against iPhone maker Apple that the company paid less in Ireland. In 2016, the US company Apple was imposed the largest tax penalty ever.
The European Union said in a statement that Apple had paid “very low taxes” in Ireland for 11 years. It is not right to do so. That is why it will have to pay 13 billion euros, or Rs 1.12 lakh crore, in taxes. It said it should be treated as a tax repayment, not a penalty.