Apple must pay 13 billion euros in back taxes, EU’s top court rules [Video]

Europe’s top court ruled against Apple on Tuesday in the tech giant’s 10-year court battle over its tax affairs in Ireland. The case stems back to 2016 when the European Commission ordered Ireland to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple.

The European Court of Justice’s decision comes hours after the company unveiled new products to revitalize its iPhone, Apple Watch and AirPod lineups.

Apple shares were down about 1%.

In a statement, the Irish government said that the Apple case “involved an issue that is now of historical relevance only,” adding that its position has always been that it “does not give preferential tax treatment to any companies or taxpayers.”

Apple said in a filing on Tuesday that it will incur a one-time income tax charge of about $10 billion in its fourth fiscal quarter ending Sept. 28, 2024.

The government noted it will now begin the process of …