Apple Has Agreed To Settle 347M Italian Tax Claim In Full After Profits Were Funnelled Through Ireland
Apple, which was accused by the Italian government of failing to declare more than $1.3B of income when paying corporation tax in the country, has now agreed to pay the full €318M ($347M) claimed by the Italian tax office. The company has 16 Apple Stores in Italy. Apple was accused of funnelling profits from Italian sales through its Irish subsidiary in order to benefit from the lower tax rate the company had agreed there....