Apple on Italy's $1 billion tax fraud probe: We are in full compliance

Share on Facebook Tweet Snapchat Share Reddit Comment
Apple on Italy's $1 billion tax fraud probe: We are in full compliance
US tech giant Apple said Thursday that it fully pays the taxes it owes everywhere, and was confident that a tax evasion probe in Italy would find it in compliance.

"Apple pays every dollar and euro it owes in taxes and we are continuously audited by governments around the world," an Apple spokeswoman said in an email to AFP.

"The Italian tax authorities already audited Apple Italy in 2007, 2008 and 2009 and confirmed that we were in full compliance with the OECD documentation and transparency requirements. We are confident the current review will reach the same conclusion," she said.

Apple is under investigation in Italy for allegedly failing to declare over 1.0 billion euros ($1.35 billion) to the tax man, Italian media reported Wednesday.

Milan prosecutors have accused the iPhone and iPad maker of hiding 206 million euros in 2010 and 853 million euros in 2011, the magazine L'Espresso said on its website.

Apple's Italian subsidiary is accused of booking some of its profits through Apple Sales International (ASI), an Irish-based subsidiary thereby reducing its taxable income in Italy, the weekly reported.

The Italian news agency Ansa, citing judicial sources, said investigators have visited Apple's Milan offices and two people were being investigated.

The multibillion-dollar California-based technology giant and other multinational US companies have been under fire in the US Congress as lawmakers accuse them of using Irish subsidiaries to dodge taxes.

Senators Carl Levin and John McCain held a hearing in May that examined offshore profit shifting and tax avoidance by Apple through the use of three Irish subsidiaries that claimed they were not tax residents anywhere, saving tax on $44 billion of non-US income.

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Apple
US FCC to carriers: Voluntarily provide mobile unlocking rights, or face rules
Samsung Galaxy smartphone with wraparound display in the works: Report

Related Stories

 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2020. All rights reserved.
Listen to the latest songs, only on JioSaavn.com