Italy is reportedly investigating Apple for allegedly hiding more than $1.34 billion in revenue from being taxed, 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. 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.
"The Apple investigation is under way," the judicial source said on Wednesday, without giving details.
Apple has yet to comment on the matter.
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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. 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.
"The Apple investigation is under way," the judicial source said on Wednesday, without giving details.
Apple has yet to comment on the matter.
Read More