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  • Apple to Cough Up 318M Euros to Italy in Tax Deal


    Apple has a big check to write to its friends in Italy.

    News out of Europe Wednesday indicates that Apple will cough up more than $300 million euros to satisfy Italy's tax office as the government of that nation looks to resolve a protracted disagreement over how much Apple owes or failed to pay throughout the last six years,

    Sources speaking with Reuters also note that Apple may be compelled to sign an agreement indicating that it will take better steps to "manage its tax liabilities from 2015 onward."

    The deal comes as the European Union and national governments take a tougher stand against profit-shielding arrangements used by multinational companies.
    As the tech blogosphere has reported on many occasions in the past, European regulators and the regulators of many individual European nations have been watching companies like Apple, Google, Facebook and others very closely to ensure that they are paying what's truly owed in taxes -- money that adds up to some pretty large sums across the pond.

    "Apple will pay the tax agency 318 million euros and will sign a new tax accord for fiscal years 2015 onwards early next year," a source is quoted in today's Reuters report.

    Source: Reuters
    This article was originally published in forum thread: Apple to Cough Up 318M Euros to Italy in Tax Deal started by Michael Essany View original post