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Italy Investigates Apple for Alleged US$1.34 Billion Tax Fraud

Italy Investigates Apple for Alleged US$1.34 Billion Tax Fraud

According to reports, Apple is under investigation from the Italian authorities for allegedly tax fraud. Sources within Italy's judicial system say that the Italian government believes that Apple has hidden a whopping US$1.34 billion from the local tax authorities.

Italy has been heavily clamping down on tax fraud recently. Just months ago, fashion designers Domenico Dolce and Stefano Gabbana were given a 20-month suspended prison sentence as well as a heavy fine for hiding hundreds of millions of euros in unpaid taxes.

This is not the first time Apple has got into tax troubles. Just last year, the The New York Times accused Apple of dodging billions in U.S. taxes. In addition, we have also reported in the past on how Apple uses various state laws to help it avoid paying billions in taxes. And not too long ago, Apple announced a 10-year plan to build a data center in downtown Reno along with a business and purchasing center, to help it further reduce taxes.

Source: Reuters via DailyTech

 

 

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