Apple loses EU court case over €13 billion Irish tax bill

Apple has lost its court battle over a €13 billion ($14.4 billion) tax bill to Ireland, as the EU’s top court ruled in favor of the European Union’s crackdown on special tax deals for large companies. The Court of Justice in Luxembourg overturned a previous win for Apple, stating that errors were made in the assessment by the EU’s regulators.

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This decision supports EU antitrust chief Margrethe Vestager’s 2016 ruling that Ireland had given Apple illegal state aid by allowing it to pay less tax than other businesses. The €13 billion has been held in escrow, awaiting a final decision.

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Apple expressed disappointment with the ruling, which caused its shares to fall 1.3% in premarket trading. Despite the outcome, the lengthy case is unlikely to have a significant impact on Ireland’s status as a tech hub.