Apple today updated its terms and conditions for App Store, iBooks, and iTunes purchases made in EU countries such as UK, France, Germany, etc.. The new TOS institutes a 14 day return policy on any apps, games, music or books purchased through Apple services on Mac and iOS devices.
If you choose to cancel your order, you may do so within 14 days from when you received your receipt without giving any reason, except iTunes Gifts which cannot be refunded once you have redeemed the code.
To meet the cancellation deadline, you must send your communication of cancellation before the 14-day period has expired.
Effects of cancellation: We will reimburse you no later than 14 days from the day on which we receive your cancellation notice. We will use the same means of payment as you used for the transaction, and you will not incur any fees for such reimbursement.Exception to the right of cancellation: You cannot cancel your order for the supply of digital content if the delivery has started upon your request and acknowledgement that you thereby lose your cancellation right.
The new return policy is most likely due to the EU digital consumer protection laws implemented earlier this year, making it unlikely that Apple will introduce it in other regions. As of right now Apple customers can only receive a refund if there is a problem with their download or the app did not function as expected. However, Apple customers in the U.S. can request a full refund if they claim they "inadvertently purchased" an application, otherwise all sales are final when purchasing any media on an iOS device.
There are concerns that some users may try to abuse the new 14 day policy by turning the App Store and iTunes into a free rental service by downloading games and movies for only a few days. It is unknown if Apple will take steps to limit how many returns a single person can make from their account.