Apple accused of tax fraud in Italy
Reuters is reporting that an Apple subsidiary in Italy is currently under investigation for tax fraud. According to a judicial source cited by Reuters, authorities in Italy are currently investigating whether or not the Apple subsidiary in question hid US$1.34 billion in revenue from tax authorities.
The maker of the iPhone is the latest prominent corporation to become the target of a tax probe in Italy amid a global crackdown on tax cheating by multinationals.
In Italy, where tax authorities have become more aggressive in their dealings with global companies, fashion designers Domenico Dolce and Stefano Gabbana were handed in June a 20-month suspended prison sentence and a heavy fine for hiding hundreds of millions of euros in unpaid taxes. Both deny any wrongdoing.
For whatever reason, Apple seems to have a penchant for running afoul of various Italian laws. You might remember that Apple previously had a drawn-out spat with Italian regulators with respect to its AppleCare Protection plan.
Reuters is reporting that an Apple subsidiary in Italy is currently under investigation for tax fraud. According to a judicial source...
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