Ireland Backs Appeal Against EU Apple Tax Ruling

(@ChaudhryMAli88)

Ireland backs appeal against EU Apple tax ruling

DUBLIN,(APP - UrduPoint / Pakistan Point News -8th Sept,2016) - Ireland's parliament battled through an ill-tempered debate on Wednesday to vote in favour of appealing a European Commission ruling ordering the country to collect billions of Euros in unpaid taxes from tech giant Apple.

Parliament voted 93-36 to support the appeal against the ruling that Ireland must collect 13 billion euros ($15 billion) from Apple. The decision followed a heated debate in Dublin during which Prime Minister Enda Kenny asserted the EU ruling "could not be allowed to stand", insisting Ireland had "played by the rules" when it came to its tax treatment of Apple.

The Commission ruled last week that Apple had received favourable tax terms that amounted to state aid -- illegal under its rules. Ireland's decision to challenge the ruling reflects fears that accepting the windfall could scare away international investment, undermining a reputation for business-friendliness that is a cornerstone of the country's economy.