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Apple Ordered to Pay €13 Billion in Back Taxes to Ireland by EU’s Top Court!

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In a significant ruling, the European Court of Justice (ECJ) has ordered Apple to repay €13 billion ($14 billion) in back taxes to Ireland, affirming a 2016 European Commission decision that Apple received illegal state aid from the Irish government. This ruling concludes a lengthy legal battle that began in 2014 when the Commission initiated an investigation into Apple’s tax practices in Ireland, where the company has its European headquarters.

Background of the Case

The European Commission’s investigation revealed that Apple benefited from two tax rulings in 1991 and 2007, which allowed the company to significantly reduce its effective tax rate in Ireland—from 1% in 2003 to just 0.005% in 2014. The Commission determined that these arrangements constituted unlawful state aid, prompting it to instruct Ireland to recover the unpaid taxes from Apple.

Legal Proceedings

Initially, in 2020, the EU General Court sided with Apple, overturning the Commission’s ruling by stating that it had not adequately proven that Apple received a selective tax advantage. However, the Commission appealed this decision, leading to the recent ECJ ruling that reinstated the original order for Apple to repay the taxes.

Apple’s Response

In response to the ruling, Apple expressed disappointment, asserting that it has always paid the taxes owed in accordance with international law and that the income in question had already been taxed in the U.S. The company maintained that the case was not about the amount of tax owed but rather about which government had the right to collect it. Apple emphasized its role as a significant taxpayer and contributor to economic growth in Europe.

Implications for Ireland and the EU

This ruling is seen as a setback for Ireland, which has positioned itself as a favorable location for multinational corporations due to its low corporate tax rates. The Irish government has contested the need for Apple to repay these taxes, arguing that such arrangements are essential for attracting foreign investment. The ECJ’s decision, however, reinforces the European Commission’s efforts to eliminate preferential tax deals that give certain companies an unfair advantage over others in the EU market.

Conclusion

The ECJ’s ruling not only marks a pivotal moment in Apple’s tax saga but also serves as a critical victory for the European Commission in its ongoing campaign against tax avoidance by multinational corporations. As the legal landscape continues to evolve, this case underscores the tensions between U.S. tech giants and European regulatory frameworks regarding taxation and competition.

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Jio BlackRock Gets SEBI Approval to Launch Brokerage Operations in India

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Jio BlackRock Broking Private Limited, a joint venture between Jio Financial Services and BlackRock Inc., has received final approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm. The regulatory nod, granted via a certificate of registration issued on June 25, 2025, allows the company to function as both a stockbroker and a clearing member in India’s financial markets. This milestone follows a series of regulatory clearances for the Jio BlackRock ecosystem, including approvals for mutual fund and investment advisory businesses, underscoring the joint venture’s ambition to build a comprehensive, digital-first financial services platform.

As a wholly owned subsidiary of Jio BlackRock Investment Advisers, the broking arm aims to deliver affordable, transparent, and technology-driven execution services to Indian investors. The company’s leadership has emphasized that the new platform will empower self-directed investors with seamless execution capabilities, complementing its broader strategy to democratize access to investment solutions in India. The approval is expected to further strengthen Jio BlackRock’s position in the rapidly expanding financial services sector, offering a full suite of products from mutual funds and advisory to brokerage, all accessible through user-friendly digital channels.

The market responded positively to the news, with Jio Financial Services shares rising over 4 percent following the announcement. Industry analysts view this regulatory milestone as a significant step in Jio BlackRock’s efforts to transform India’s investment landscape, moving the country closer to becoming a nation of investors rather than just savers.

 

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CoRover Unveils BharatGPT Mini: India’s First Offline Multilingual AI

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CoRover has launched BharatGPT Mini, India’s first offline multilingual AI model, at VivaTech 2025 in Paris, with the event officiated by Union Minister Jitin Prasada. This innovative Small Language Model (SLM), featuring around 534 million parameters, is specifically designed for edge devices and low-compute environments, enabling robust AI capabilities without the need for cloud connectivity. Its ability to function entirely offline and support 14 Indic languages makes it a powerful tool for digital inclusion, particularly in rural and remote regions where internet access is limited.

BharatGPT Mini’s architecture is optimized for deployment across various sectors, including healthcare, education, banking, and governance, allowing citizens to interact with essential services in their native languages. The model can be integrated into small businesses, government offices, and other organizations through the CoRover Builder platform, which offers a no-code solution for deploying AI assistants across web, telephony, and IoT systems. By processing data locally and encrypting it on-device, BharatGPT Mini ensures strong privacy and data sovereignty, aligning with India’s strategic goal of developing indigenous AI solutions. 

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Kerala Startup E-Quark Launches Innovative Mobile Holder with Built-In Charger

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Kerala-based startup E-Quark Molecule Innovations Pvt Ltd, headquartered in Thrissur, has introduced an innovative device called Keratin that combines a mobile phone holder with a built-in charger. This unique gadget is designed to offer users a convenient solution to hold and charge their smartphones simultaneously, addressing the common challenge of managing power supply while using mobile devices.

The device enhances user experience by integrating two essential functions into one compact design. It securely holds the phone while providing efficient charging, making it perfect for use on desks, bedside tables, or other personal spaces where easy access and power are needed. This innovation aligns with the growing trend of multifunctional mobile accessories that prioritize both convenience and practicality.

E-Quark Molecule Innovations is a key player in Kerala’s dynamic startup ecosystem, which has been rapidly expanding in tech-driven areas such as electric vehicle charging infrastructure. With the launch of this mobile holder-charger, the company is establishing itself as a leader in user-centric mobile accessories, further cementing Kerala’s position as a hub for cutting-edge technology development.

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