Apple Under Investigation for $1.3 Billion Italian Tax Fraud
The Government believes Apple may have hidden more than $1.3 billion from the Italian tax authority and investigators in that country have been aggressive with their tax probes in recent years.
According to Reuters:
The maker of the iPhone is the latest prominent corporation to become the target of a tax probe in Italy amid a global crackdown on tax cheating by multinationals.Apple has been fined more than $1 million by Italian regulators in a separate case, after the company was found not providing consumers with proper disclosures related to the warranties that Italian consumers automatically get under local law.
In Italy, where tax authorities have become more aggressive in their dealings with global companies, fashion designers Domenico Dolce and Stefano Gabbana were handed in June a 20-month suspended prison sentence and a heavy fine for hiding hundreds of millions of euros in unpaid taxes. Both deny any wrongdoing.
Apple currently operates fourteen Apple Retail Store locations in Italy, including the Via Rizzoli location in Bologna, pictured above.