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Wireless

Apple to settle Italian tax suit for EUR 318 mln - report

Wednesday 30 December 2015 | 11:34 CET | News
Apple's Italian subsidiary has agreed to pay EUR 318 million to settle a tax fraud investigation, La Repubblica reports. An Italian investigation found earlier this year that the company had under-reported its revenue in Italy in order to pay lower tax through its Irish subsidiary. Apple reportedly avoided EUR 880 million in corporate income tax in Italy in the period 2008-2013. According to the paper's unnamed sources, Apple accepted the findings of the investigation and agreed to the settlement amount. 

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Categories: Mobile & Wireless
Companies: Apple
Countries: Italy
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