Italians take a €318m tax bite out of Apple
TECH giant Apple will pay Italy's tax office €318m to settle a dispute and sign an accord next year on how to manage its tax liabilities.
Italian prosecutors have been investigating allegations that Apple failed to pay corporate taxes to the tune of €879m, sources told Reuters earlier this year. "Apple will pay the tax agency €318m and will sign an accord for fiscal years 2015 onwards early next year," the source said.
The tax office earlier confirmed a report in 'La Repubblica' newspaper that it had reached a deal with the iPhone maker but declined to say how much the US company had agreed to pay.
The source said that while the judicial probe, which also regards three Apple managers, remained open for now, the settlement with the tax agency would likely have a positive impact on the investigation.
Apple could not immediately be reached for comment.
Apple is the subject of a tax inquiry with regard to its operations in this country.