Apple’s Italian subsidiary has agreed to pay €318m (about US$348m million) following an investigation into tax fraud allegations, Italy’s tax office says. Italy’s tax authorities say the company failed to pay €880m in tax between 2008 and 2013, according to “La Repubblica” — as noted by “BBC News (http://www.bbc.com/news/world-europe-35197547)
The settlement follows an investigation by prosecutors in Milan. Apple hasn’t commented on the settlement, but has previously denied any attempts to escape paying tax owed on profits made around the world.
The investigation, which dates to 2013, examined whether Apple had moved around $1.1 billion in revenues from its Italian operations through an Irish subsidiary to lower the taxes that the company was to to pay in Italy.