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ExtraTorrent.cc > Articles > Apple Settled Tax Dispute in Italia for $350m

Apple Settled Tax Dispute in Italia for $350m

Apple Settled Tax Dispute in Italia for $350m

Added: Thursday, December 31st, 2015
Category: Recent Headlines Involving File Sharing > Ridiculous Criminal Trials
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, www.extratorrent.cc, 2015
Italian tax agency revealed that the tech giant has settled a tax dispute with Italian authorities for the equivalent of $350 million after it was investigated for suspected fraud.


Indeed, Apple’s Italian subsidiary and a number of its senior executives had been investigated for fraud over its failure to declare its revenues in the country between 2008 and 2013. According to local media reports, the tech giant should have paid corporation tax of $960m for the period, but it didn’t. Following the months of negotiations, the Italian tax authorities agreed to settle the case in return for about 1/3 of that sum. Tax office of the country officially confirmed that such information was accurate but would not disclose any further details.

The news emerges amid ever increasing controversy over the tax arrangements of multinational corporations that benefit from using complex cross-border corporate structures to cut their tax bills. Apple is not an exception, with its Italian division being part of the company’s European operation headquartered in Ireland. Like almost all other tech giants, Apple is aware that Ireland has one of the lowest levels of corporation tax in the region and most of Apple’s worldwide profits have been booked there. However, Ireland taxes corporate earnings at a rate of 12.5%, while in Italy the rate is 27.5%.

In December, Tim Cook called the accusations that its company was sidestepping American taxes by hiding cash abroad “political crap” and assured everyone that Apple paid every tax dollar it owes. As for the Italian case, the settlement of the dispute won’t halt the criminal investigation into the company’s executives but will likely soften any potential sanctions.

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Date:  Thursday, December 31st, 2015

Comments (7) (please add your comment »)

posted by Site FriendET junkieET lovermenSunTurtle (2015-12-31 14:34:19)
Sammy1968 avatarIf you have watched alot of movies or tv, you will notice that almost all laptops/desktops are
apple made. Apple computers are way over priced, but some people think not and buy one anyways.
It's not a fad anymore, just over priced garbage. They deserve to be taxed.

posted by (2015-12-31 17:42:09)
zottomerk avatarI don't really agree.. It is indeed expansive, but there is still some big differences with any other computer. So it is not yet paradise, but this is the closest to something you can call a computer.
It's been already 5 years i got my macbook pro 17 inch (the last), and it is still steady and stable. I love it.

posted by (2016-01-02 09:39:48)
No avatarhaha "coundt stop laughing at your comment Sammy. Soz matey but apple are huge in phone sales only. Their laptops and desktops do not sell anywhere near the volumes of pc desktops and laptops, hell even apple pads are on the slowdown when android and windows tablets are on the rise, but as of this day windows dominates the desktop market about the same as mac dominated s the phone market. Internet traffic showed and has been showing that for years.

posted by (2016-01-02 13:49:29)
wiley789 avatarSo they commit fraud, and get away with paying some money, which is probably only a portion of what they have got away with. yet if you or i commit fraud, someone goes to jail. another example of money talks and justice walks.....away.

posted by Site FriendET junkieET lovermenSunTurtle (2016-01-02 14:46:03)
Sammy1968 avatarDon't get me wrong, I enjoy competition among tek companies. When I was 11-12, my dad bought a
TRS-80 Model 1. Are neighbors bought an Apple. It had better Graphics and even a mouse. Today the
4 companies are AMD/ATI/NVIDIA/INTEL. I think AMD owns ATI. But today a computer that will play games at or around 40-60fps with an AMD CPU, will cost much less than an INTEL CPU. Hobbyist will usually buy an AMD cpu. I will. It will run fast enough. And I've had great results with NVIDIA GPU's. ATI's not so much. I fried 2 of them overclocking. Never had that happen with Nvida cards. It's all about competition, and that's a good thing. Imagine If we only had 1 brand of car to choose from.
about what you want verses what you can afford.

posted by (2016-01-03 15:41:03)
ITGeek1957 avatarCouldn't stop laughing at your comment munchy22. Apple are small in phone sales (world wide). The only market they dominate in is in North America. Nowhere else. Android devices hold over 80% market share.

The laptop / desktop environment is even worse for Apple who only hold just over 9% of that market. Apple is no where near the 'giant' in the industry people are led to believe they are. And from your comments I suspect you were led along that path too.

posted by (2016-01-05 10:57:36)
No avatarapple phone sales are small? really. They lead the world in profits for their phone sales and they have the number 1 selling phone. Samsung asd a brand with many phones sell more but no single phone sells more than iphones do. Apple are also the most profitable because of their phone sales leaving thewm with a reported 200 billion us dollar cash pile, again if being number 1 and having that kind of surplus, the kind that mno other company has then hey its small lol. I'm no apple fan but to say their phone is small in sales is ridiculous.

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