The Wall Street Journal reports (30 December 2015) that Italy’s tax authority reached an agreement with Apple Inc to settle a dispute in which the US technology giant was accused of underpaying tax between 2008 and 2013. Apple has agreed to pay €318m ($347m), after allegedly failing to pay nearly €900m in taxes over the period by booking Italian revenue through its Irish unit to avoid taxes. The Wall Street Journal also reports the Italian economy ministry’s claim that tax evasion in the country amounts to a total of more than €90bn a year, one of the highest levels of evasion in the EU. A related criminal investigation into three Apple executives is still ongoing.
The Wall Street Journal reports (30 December 2015) that Italy’s tax authority reached an agreement with Apple Inc to settle a dispute in which the US technology giant was accused of underpaying tax between 2008 and 2013. Apple has agreed to pay €318m ($347m), after allegedly failing to pay nearly €900m in taxes over the period by booking Italian revenue through its Irish unit to avoid taxes. The Wall Street Journal also reports the Italian economy ministry’s claim that tax evasion in the country amounts to a total of more than €90bn a year, one of the highest levels of evasion in the EU. A related criminal investigation into three Apple executives is still ongoing.
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