Italy Investigates Apple For Alleged Tax Fraud 175
Frankie70 writes in with some more bad news for Apple in Europe. "U.S. tech giant Apple is under investigation in Italy for allegedly hiding 1 billion euros ($1.34 billion) from the local tax authority, two judicial sources with direct knowledge of the matter told Reuters. Milan prosecutors say Apple failed to declare to Italian tax authorities 206 million euros in 2010 and 853 million euros in 2011, one of the sources said, confirming a report by Italian magazine L'Espresso. The Italian subsidiary of Apple booked some of its profit through Irish-based subsidiary Apple Sales International (ASI), thus lowering its taxable income in Italy, the source said."
italians (Score:5, Interesting)
Not the people to try tax evasion with...they are pros
who forgot ... (Score:2, Interesting)
I suspect the hottest question around Apple today is "who forgot to pay the Parliament's members bribes?" (or, at least, make the appropriate "campaign contributions", as we prefer to call them here in the USofA).