(Photo: Bonham Journal)
Apple has reportedly agreed to pay about $347.6 million to Italian authorities to settle allegations of tax evasion, according to sources with knowledge of the matter.
The company has now faced another legal obstacle over taxation as Italian law authorities have judged Apple to pay the country Euro 318 Million.
Italian authorities reached an agreement with Apple and the California based company agreed to pay €318 million to the Italian tax authority due to tax avoidance charges. Messages seeking comment were not immediately answered. It has previously denied attempting to escape paying tax owed on profits made around the world. Ireland was held by the European Union past year for bending the worldwide tax rules as it allows Apple to shelter tens of billions of its profits in return for job security.
The original article can be found at bonhamjournal.com