'Apple investigated for Italy tax fraud'

Nov 13, 2013
Customers look at the iPad mini at an Apple store in Rome on November 2, 2012

Apple is under investigation in Italy for allegedly failing to declare over 1.0 billion euros ($1.34 billion) to the tax man, Italian media reported on 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 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.

Explore further: How Kim Jong Un became the target of 'The Interview'

add to favorites email to friend print save as pdf

Related Stories

Italian tax police raid Facebook offices

Dec 07, 2012

Italian police on Friday raided the Milan offices of US social media giant Facebook over possible violations of tax laws, Italian media reported.

Italian probe alleges Google underpaid tax

Nov 28, 2012

A probe by Italian tax authorities into US Internet giant Google's Italian arm has found it failed to declare income of 240 million euros ($310 million) and pay value added tax of 96 million euros.

Italy fines Apple for misleading consumers

Dec 27, 2011

Italy's anti-trust authority said Tuesday it was imposing a 900,000-euro ($1.2-million) fine on US tech giant Apple for misleading consumers on assistance services and guarantees for its products.

French authorities probe Google's tax bill

Mar 20, 2012

French authorities are probing Google for potential tax avoidance, a source close to the matter said Tuesday, with the US Internet giant facing a possible bill of over 100 million euros ($132 million).

Nokia finalises Nokia Siemens buy, changes name

Aug 07, 2013

Finnish mobile phone maker Nokia said Wednesday it had finalised the purchase of German engineering giant Siemens' 50 percent stake in Nokia Siemens Networks, and changed the company's name.

SAP profits up 23 percent as cloud computing grows

Oct 21, 2013

Business management software company SAP AG says net profit rose 23 percent in the third quarter as its cloud computing business grew rapidly and the company kept down costs by holding down hiring of new employees.

Recommended for you

'Interview' ordeal at Sony just its latest crisis

42 minutes ago

How do you say "damage control" in Japanese? Sony Corp. is sealed within a hermetic cone of silence as executives try to prevent the slow motion train wreck at Sony Pictures from damaging the rest of the ...

Underfire Uber ramps up rider safety

16 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

17 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

User comments : 3

Adjust slider to filter visible comments by rank

Display comments: newest first

Lurker2358
1 / 5 (4) Nov 13, 2013
It's just another case of a European country trying to milk an American company.

Nothing new here, this crap has been going on for 500 years.
Lurker2358
1 / 5 (4) Nov 13, 2013
It's just another case of a European country trying to milk an American company.

Nothing new here, this crap has been going on for 500 years.
nowhere
5 / 5 (1) Nov 14, 2013
Just another case of an american corporation engaging in tax fraud. Nothing new here, this sort of thievery has been going on since forever.

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.