Google has lost its final legal challenge against a European Union penalty for giving its own shopping recommendations an illegal advantage over rivals in search results, ending a long-running antitrust case that came with a whopping fine
Revenue doesn’t equal profit. Apple’s 2023 net profit was 96b, so a 14b fine is a substantial portion of their overall profits (~15%).
Of course, they’re not hurting by any stretch of the imagination, 82b is still a STUPID amount of money, but we should be getting the facts and numbers correct
And in Apple’s case they’re just being forced to pay back taxes, not even any fines. They’re basically undoing an illegal tax break from Ireland, which has spent $10 million in legal fees to fight against receiving it. Technically the Irish government is the one that fucked up here. Apple will have to pay and move forward paying a normal tax rate.
Revenue doesn’t equal profit. Apple’s 2023 net profit was 96b, so a 14b fine is a substantial portion of their overall profits (~15%).
Of course, they’re not hurting by any stretch of the imagination, 82b is still a STUPID amount of money, but we should be getting the facts and numbers correct
And in Apple’s case they’re just being forced to pay back taxes, not even any fines. They’re basically undoing an illegal tax break from Ireland, which has spent $10 million in legal fees to fight against receiving it. Technically the Irish government is the one that fucked up here. Apple will have to pay and move forward paying a normal tax rate.
Still less than the lowest tax bracket in the US