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Apple 'to pay €318m' to settle Italy tax fraud case

Written by  Dec 30, 2015
Apple's Italian subsidiary has agreed to pay €318m (£235m; $348m) following an investigation into tax fraud allegations, Italy's tax office says. Italy's tax authorities say the company failed to pay €880m in tax between 2008 and 2013, according to La Repubblica. The settlement follows an investigation by prosecutors in Milan. The US tech giant has not commented on the deal. It has previously denied attempting to escape paying tax owed on profits made around the world. Apple Italia is part of the company's European operation which is headquartered in Ireland, a country with one of the lowest levels of corporation tax in the EU. Investigators in Italy say they found a huge gap between the company's revenues in Italy of over €1bn between 2008 and 2013 and the €30m that was paid in tax in Italy. Apple has agreed to pay the amount requested by Italy's tax office, according to reports. The company's chief executive, Tim Cook, has rejected accusations that the firm has been sidestepping US taxes by stashing cash overseas, insisting: "We pay every tax dollar we owe." Source: BBC    
Last modified on Wednesday, 30 December 2015 10:18

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