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Italy: Apple faces tax evasion charges

By  |  March 24, 2015

Citing a pair of sources with knowledge of the inquiry, Reuters on Monday reported prosecutors completed their probe into Apple’s tax practices and, under Italian law, may soon seek a trial over the matter.

At the investigation’s heart are Apple accounting techniques that from 2008 to 2013 booked income to a subsidiary in Ireland rather than Italy. Specifically, two managers from Apple’s Italian operations and one employee from Apple’s Irish subsidiary Apple Sales International were under scrutiny.

If Apple had booked income with Italian tax authorities, its taxes would have been much higher. Overall, the company allegedly saved some $964 million using its Irish holding company.

However, the ACCC said these benefits are limited, and can already be enjoyed by passengers who fly China Eastern for the whole of their trip.

 

Full Content: Reuters

 

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