Apple to Pay $347 Million Over Italian Tax Dispute
- 8 years ago
Apple has agreed to pay Italy 318 million euros (about $350 million) in taxes for several past years, prosecutors said Wednesday, part of a broader European effort to make multinationals pay what they owe in each country where they do business.
Italy has already brought several cases against global technology companies that have headquarters in low-tax nations like Ireland to avoid paying higher taxes in other countries, like Italy.
The practice, called profit-shifting, has come under attack from the European Union, which wants multinationals to pay tax where they earn their revenue, and not where they have their regional base.
The EU's 28 states agreed in October to share details of tax deals they reach with big companies to make sure they are fair to other countries.
The EU has already ordered Starbucks and Fiat to pay millions in back taxes to Luxembourg and the Netherlands, respectively.
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Italy has already brought several cases against global technology companies that have headquarters in low-tax nations like Ireland to avoid paying higher taxes in other countries, like Italy.
The practice, called profit-shifting, has come under attack from the European Union, which wants multinationals to pay tax where they earn their revenue, and not where they have their regional base.
The EU's 28 states agreed in October to share details of tax deals they reach with big companies to make sure they are fair to other countries.
The EU has already ordered Starbucks and Fiat to pay millions in back taxes to Luxembourg and the Netherlands, respectively.
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