Italian officials investigate Apple for alleged tax fraud

Apple Tax Dodging Investigation

Whenever his company is criticized for setting up elaborate overseas tax shelters, Apple CEO Tim Cook usually replies that his company is playing within the rules and is paying all the taxes the law requires it to pay. However, an unnamed source tells Reuters that officials in Italy are investigating whether Apple really is obeying the law and are trying to decide whether the company has illegally dodged around $1.34 billion in taxes in the country. The Securities and Exchange Commission earlier this year cleared Apple of any legal wrongdoing in its tax avoidance practices although that obviously doesn’t mean that the company has a clean record in other countries with different tax laws.

Source:
Reuters
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