Apple wins tax battle against EC

first_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 15 JUL 2020 The General Court of the European Union annulled a 2016 European Commission (EC) decision to charge Apple €13 billion in back taxes, after ruling the EC was incorrect in concluding the company received illegal benefits in the Republic of Ireland.In a statement, the court noted the EC “did not succeed in showing to the requisite legal standard” that Apple subsidiaries incorporated in Ireland gained “a selective economic advantage and, by extension state aid”.Apple told Mobile World Live the case “was not about how much tax we pay, but where we are required to pay it”.The company highlighted it had “paid more than $100 billion” in corporate income tax and “tens of billions” in other taxes globally in the last decade, and said it spent more than €13 billion with 4,500 European suppliers in 2019, in turn supporting 1.8 million jobs.Ireland’s Department of Finance stated the country had “always been clear that there was no special treatment provided” to Apple.EC VP and Competition Commissioner Margrethe Vestager said it “will carefully study the judgment and reflect on possible next steps”.Apple began appeal proceedings in September 2019, when it labelled the EC’s ruling “fundamentally flawed”. Subscribe to our daily newsletter Back Apple Previous ArticleGoogle faces another data tracking lawsuitNext ArticleGoogle pumps billions into Jio Platforms Manny Pham Tags Google taps retail with NYC store Home Apple wins tax battle against ECcenter_img UK consumers seek £1.5B from Apple Apps Author Related Manny joined Mobile World Live in September 2019 as a reporter based in London. He has previous experience in telecoms having worked for B2B publication Mobile News for three years where he climbed up to the position of Features Editor…. Read more KT makes LG Electronics trade-in movelast_img read more

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Jagex sold for $530m

first_imgJagex sold for $530mFukong Interactive also sells RuneScape developer’s parent company to Macarthur Fortune HoldingJames BatchelorEditor-in-ChiefTuesday 28th April 2020Share this article Recommend Tweet ShareCompanies in this articleJagex Games StudioUK MMO developer Jagex has been acquired for $530 million.The studio was previously owned by Shanghai Hongtou Network Technology, a company within Chinese games firm Fukong Interactive Entertainment. It has now been purchased by US-based global management firm Macarthur Fortune Holding through one of its funds, Platinum Fortune.Macarthur has also acquired the Hong Kong-based Hongtou Network, again through the Platinum fund.Jagex’s management team at its Cambridge headquarters remains in place.Related JobsData Scientist Jagex Games StudioLead Technical Artist Jagex Games StudioSenior Product Manager Jagex Games StudioDiscover more jobs in games Going forward, Macarthur Fortune plans to strategically invest in marketing, research and development to help Jagex grow the playerbase for its RuneScape MMOs.This sale has been rumoured for well over a year, with the news that Fukong Interactive was planning to sell Jagex first emerging back in January 2019.Reports emerged that the developer was being sold to a US firm, identified by some as Platinum Fortune, but Jagex denied this — twice, in fact — stating that, at the time, a sale was one of several possible outcomes.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore stories”It was never about spending power”: What Carlyle acquisition really means for JagexCEO Phil Mansell on the latest change of ownership and plans to expand RuneScape beyond the 20-year-old MMORPGBy James Batchelor 3 months agoJagex sold to Carlyle GroupUPDATE: US buyout fund confirms it has taken over RuneScape developerBy James Batchelor 3 months agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

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