Apple wouldn’t be paying $14.9 billion to the Irish government after winning an appeal at the General Court of the European Union. This nullifies the 2016 judgement handed by the European Commission
The General Court stated that it annulled the decision made in 2016 due to insufficient evidence to prove that Apple broke competition rules set by the EU.
This huge tax bill was the result of an anti-trust investigation made by Europe’s Competition Commission which was investigating whether Apple had paid its required tax in Ireland.
Might Be Temporary
September 2018, Apple transferred the money into an escrow account, where it’d remain until the conclusion of the appeals process. Wednesday’s judgement might prove to be temporary as the Competition Commission could appeal further at Europe’s highest court, the European Court of Justice, which would have the final say on the matter.