Apple's next iPhone expected to gain improved camera, lose the headphone jack.
Italian Regulators Conclude Corporate Tax Investigation Against Apple
The investigations accuse Apple of booking profits generated in Italy through an Irish subsidiary in an effort to lower its taxable income base and save nearly €900 million from 2008 through 2013. Apple argues that it's "one of the largest tax payers in the world and paid every euro of tax it owed wherever it did business," and believes that the allegations against its employees are without merit.
It said the Italian tax authorities had audited Apple’s Italian operations in 2007, 2008 and 2009 and confirmed it was in full compliance with the OECD documentation and transparency requirements.Apple is one of several multinational tech companies, including Amazon and Google, that have faced corporate tax investigations in the United States and Europe. The U.S. Senate accused Apple of avoiding billions in income taxes in May 2013, while the European Union accused the company of receiving illegal state aid from Ireland after completing a formal investigation into its questionable tax practices in the country last year.
"These new allegations against our employees are completely without merit and we’re confident this process will reach the same conclusion," it said.
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