Friday 9 December 2016

Apple to pay €318m to settle Italian tax investigation

James Titcomb

Published 30/12/2015 | 11:07

Apple's first store in Singapore will be powered solely by solar energy, it has been reported
Apple's first store in Singapore will be powered solely by solar energy, it has been reported

Apple has agreed to pay €318m to settle a tax investigation in Italy.

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A spokesman for Italy's tax office confirmed that the tech company's Italian subsidiary had agreed to pay the sum to end the investigation, with the amount paid in line with what the agency had asked for.

However, it is less than the €880 million that Apple had reportedly been accused of hiding by the authority. According to Italian newspaper La Repubblica, Apple had been accused of tax evasion over five years, from 2008 to 2013, by booking sales in Italy through its Irish subsidiary. Apple has claimed that it pays "every dollar and euro it owes in taxes".

The settlement comes after lengthy negotiations between Italian authorities and the company. Apple has not yet commented.

Italy's squeezed public finances have seen an increasing focus on corporate tax payments, and many governments around the world have zeroed in on multinational tech companies.

Telegraph.co.uk

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