Apple to Pay Italy €318 Million to Settle Tax Dispute

Apple has agreed to pay 318 million euros to Italy to settle a tax probe which found the company failed to declare earnings in Italy between 2008 and 2013. Approximately 880 million euro in corporate income tax was evaded, according to La Repubblica.Apple was found to have been attributing profits generated in Italy to its company in Ireland which lowered its taxable income in the country. Ireland’s corporate tax rate is normally about 12.5% compared to Italy’s at 27.5%.A spokesman for Italy’s tax office confirmed the accuracy of the report to the Guardian but wouldn’t comment any further.Share Article:Facebook,   Twitter,   LinkedIn,   Google Plus,   Email,   Reddit,   Digg,   Delicious,   StumbleUponFollow iClarified:Facebook,   Twitter,   LinkedIn,   Google Plus,   Newsletter,   App Store,   YouTubeAdvertise Here

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