Apple to pay Italy £234 million over tax dispute

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Apple has reportedly reached a deal with Italy’s tax office to settle a dispute over its taxes.

The tech giant will pay €318 million (£234 million) to the tax office and sign an agreement about how to manage its tax liabilities in the new year, Reuters said, citing a source with direct knowledge of the matter.

The payout comes after Italian prosecutors launched an investigation into allegations that Apple failed to pay around €879 million in corporation tax.

Wednesday’s agreement with Italy’s tax office is likely to have a positive impact on the probe, the source told Reuters.

Apple did not immediately respond to the Standard’s request for comment.

Apple’s tax policies are also being examined by the European Union.

The EU is looking into its tax arrangements with Ireland, where it has its European headquarters, to determine whether there was a deal to maintain jobs that would amount to unfair state aid.

A judgment is expected soon.

Google and Amazon’s tax affairs have also come under scrutiny by the European authorities.

Source Article from http://www.standard.co.uk/business/apple-to-pay-italy-234-million-over-tax-dispute-a3146111.html

December 30, 2015 |
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