Apple investigated for tax fraud in Italy - report
AFP - [email protected]
Published: 14 Nov, 2013 CET.
Updated: Thu 14 Nov 2013 08:05 CET
US computer giant Apple is under investigation in Italy for allegedly failing to declare over €1.0 billion to the tax
man, Italian media reported on Wednesday.
Milan prosecutors have accused the iPhone and iPad maker of hiding €206 in 2010 and €853 million 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.
Judicial sources cited by Ansa news agency said investigators have visited the company's Milan offices and two people were being investigated.
Don't miss a story about Italy - Join us on Facebook and Twitter.
Comments
See Also
Milan prosecutors have accused the iPhone and iPad maker of hiding €206 in 2010 and €853 million 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.
Judicial sources cited by Ansa news agency said investigators have visited the company's Milan offices and two people were being investigated.
Don't miss a story about Italy - Join us on Facebook and Twitter.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.