Apple pays millions in back taxes to Italy in evasion case

ROME -- Italian authorities say Apple Italia has agreed to pay 318 million euros ($350 million) in taxes for several past years and is working out a deal to cover future tax liabilities for business it does in the country.

See Full Article

The case is one of several against global technology companies that use headquarters in low-tax nations like Ireland to avoid paying higher taxes in other countries, like Italy.

Milan prosecutors Wednesday confirmed a report in Rome daily La Repubblica that Apple agreed to pay the sum for years spanning 2008-2013. The prosecutors also said Apple and Italy are working to reach an accord on what the company's tax liabilities will be for successive years.

Apple offices in Milan, London and Ireland were closed on Wednesday. Messages seeking comment weren't immediately answered.



Advertisements

Latest Economic News

  • Courier ordered to pay damages after stallion sperm shipment loses its potency

    Economic CTV News
    HALIFAX - A multinational courier has been ordered to pay damages for taking two days to deliver stallion sperm after a Halifax adjudicator found customers were justified in expecting overnight service. Augustus Richardson ruled in the small claims court of Nova Scotia earlier this month that FedEx should pay the claimant $740.36 because claimant Chelsea McKendrick had understood "Priority overnight" delivery meant the sperm would arrive within 24 hours after it was sent. Source
  • Labatt Breweries of Canada plans $460M investment for competitive edge

    Economic CTV News
    TORONTO -- Labatt Breweries of Canada says it is investing $460 million between 2017 and 2020 to enhance its operations and help boost growth. The maker of popular brands such as Labatt Blue, Budweiser and Alexander Keith's says the figure includes $62.2 million towards brewery operations this year. Source
  • Do Canadian cities have a shot at Amazon's HQ2? And should they want one?

    Economic CBC News
    It seems like a can't miss opportunity. Tens of thousands of jobs, billions of dollars in investment and bragging rights as the second home for one of the world's richest companies. Amazon's announcement that it's searching for a second North American home caused mayors and municipal leaders across the continent to jump at the chance to play host. Source
  • Preliminary report from utilities commision on Site C dam to be released

    Economic CTV News
    VANCOUVER - The British Columbia Utilities Commission is expected to release a preliminary report today on its review of the $8.8-billion Site C dam in the province's northeast. BC Hydro says it has already spent $1.8 billion on construction for the hydroelectric dam planned for the Peace River, but Premier John Horgan's NDP government asked the commission to review the economic viability of the project after taking office. Source
  • Preliminary report from utilities commission on Site C dam to be released

    Economic CTV News
    VANCOUVER - The British Columbia Utilities Commission is expected to release a preliminary report today on its review of the $8.8-billion Site C dam in the province's northeast. BC Hydro says it has already spent $1.8 billion on construction for the hydroelectric dam planned for the Peace River, but Premier John Horgan's NDP government asked the commission to review the economic viability of the project after taking office. Source
  • Asian stocks flat as investors await Federal Reserve meeting

    Economic CTV News
    SEOUL, Korea, Republic Of - Asian stock markets were little changed on Wednesday as investors took to the sidelines ahead of the Federal Reserve's announcement of the result of its meeting. KEEPING SCORE: Japan's Nikkei 225 was flat at 20,298.80 and South Korea's Kospi edged down 0.1 per cent to 2,413.63. Source
  • Tips for Canadians caught in Equifax's security hack

    Economic CTV News
    If you learn that you’re among the estimated 100,000 Canadians whose personal information – including addresses, social insurance numbers and credit card details – may have been compromised in the massive Equifax hack, cybersecurity expert Brian O’Higgins has some advice. Source
  • Court certifies class-action suit involving 450 foreign workers who got no jobs

    Economic CTV News
    VANCOUVER -- The Supreme Court of British Columbia has certified a class-action lawsuit against Mac's Convenience Stores and three immigration consultants alleged to have collected thousands of dollars from foreign workers who were promised jobs that didn't exist. Source
  • Bombardier workers to stage rally in Toronto over Boeing dispute, will walk out

    Economic CTV News
    TORONTO - The union representing Bombardier's production workers says employees at the company's aerospace plant in Toronto will walk out Wednesday -- a move meant to pressure Boeing to drop a trade complaint against Bombardier. Source
  • Ontario premier says 'supports' will ease transition to $15 minimum wage

    Economic CTV News
    WALTON, Ont. -- Ontario farmers and small businesses will receive support from the government as the province moves ahead with its plan to raise the minimum wage to $15 an hour, Premier Kathleen Wynne said Tuesday. Source