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.
Italian officials investigate Apple for alleged tax fraud
Published Nov 13th, 2013 12:40PM EST
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
