Apple is under investigation in Italy for allegedly hiding 1 billion euros from the local tax authority.
Milan prosecutors say the technology giants failed to declare 206 million euros in 2010 and 853 million euros in 2011 according to judicial sources.
The source also claimed that checks on the size of the tax amount owed by the iPad makers is under way and said that the Italian subsidiary of Apple booked some of its profit through Irish-based subsidiary Apple Sales International (ASI) to lower its taxable income in Italy.
But the firm says that it pays all the tax money that it owes, and that checks have showed that it complies with Italian tax laws.
A statement from Apple said: 'Apple pays every dollar and euro it owes in taxes and we are continuously audited by governments around the world. Full story...
Related posts:
Milan prosecutors say the technology giants failed to declare 206 million euros in 2010 and 853 million euros in 2011 according to judicial sources.
The source also claimed that checks on the size of the tax amount owed by the iPad makers is under way and said that the Italian subsidiary of Apple booked some of its profit through Irish-based subsidiary Apple Sales International (ASI) to lower its taxable income in Italy.
But the firm says that it pays all the tax money that it owes, and that checks have showed that it complies with Italian tax laws.
A statement from Apple said: 'Apple pays every dollar and euro it owes in taxes and we are continuously audited by governments around the world. Full story...
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- Citigroup hasn’t paid taxes in 4 years, got $2.5 trillion from feds...
- Apple hides almost $1bn a week from US tax man...
- Apple paid only 2% corporation tax outside US...
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