To be exact, the ruling is that Ireland gave unfair advantage to Apple, compared to other companies. If Ireland want to set corporate taxes at 1%, it can, but it should be for all companies. Amazon notably didn't get the same deal Apple did, which is anti-competitive.
> If Ireland want to set corporate taxes at 1%, it can, but it should be for all companies. Amazon notably didn't get the same deal Apple did, which is anti-competitive.
This was formerly the case, but actually now they no longer can set them that low, due to a deal by many countries to effectively force a 15% minimum. This was also largely aimed at Ireland's low 12.5% tax rate, which is being phased out as a result.
This is not a fine, tho. It's just the amount that Apple would have paid in taxes, if the special deal didn't exist.
The EU is not imposing any fines on Apple. They're just ordering Ireland to collect the taxes owed to them (Ireland), since the tax deal was found to be unfair/illegal.
Yes. Which if you think about it, is doubly unfair. First Ireland reaped the benefits of keeping Apple in the country; then it gets paid Apple's taxes anyway.
Sure, this puts a stop to the practice and makes it much harder to sell such deals in the future, but for the moment Ireland had its apple cake and ate it, too.
