The leadership of the Italian representative of Apple is forced to explain about the possible tax evasion in the country. The prosecutor’s office of Milan has already opened an investigation on the basis of suspicion that the American manufacturer of iPhone and iPad has hidden more than a billion euros of tax base from Italian tax officials.
According to the Espresso weekly, prosecutors in the country suspect the company that two of its employees provided accounting reports with underestimated tax rates to the tax authorities in 2010 and 2011. Amounts were underestimated by 206 and 853 million euros, respectively. Accordingly, the total amount with which taxes were not calculated in the Italian budget amounted to more than 1.06 billion euros.
It is believed that part of the proceeds earned in Italy could have been deposited with an Irish company controlled by Apple, using fraudulent schemes, which allowed the American giant to take advantage of a number of tax advantages. The branch allegedly booked part of its profits through the Irish branch of Apple Sales International (ASI), thus lowering his taxable income in Italy. Continue reading