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Apple 'to pay 318 million euros' to settle tax dodging dispute with Italy


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Apple 'to pay 318 million euros' to settle tax dodging dispute with Italy

It is crunch time for Apple in Italy.

The US tech giant has reportedly agreed to pay 318 million euros to settle claims of tax dodging there.

Apple is one of several big firms like Google and Amazon to fall foul of tax inquiries in Europe.

In Italy, authorities have pledged to crack down in moves to help shore up stretched public finances.

Apple saves billions of euros in taxes through subsidiaries in Ireland, where it declares much of its overseas profit.

While the firm gave no immediate comment on the Italian tax office’s announcement of a deal, Chief Executive Tim Cook earlier this month dismissed as “total political crap” the notion that it was avoiding taxes.

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