Apple failed to provide 880 million euro in back taxes
Business

Apple failed to provide 880 million euro in back taxes

Apple is one of the highest earning companies around the world. According to authorities and Governments, unfairly avoids paying taxes. A similar opinion is its founder, Steve Wozniak.

More and more corporations trying to as it can to avoid paying taxes by using for this purpose all sorts of loopholes in the law. Apple is not a exception. According to an ongoing, carried out by the European Union to the proceedings, founded by Steve Jobs and Steve Wozniak the company pays only 2% in taxes, which is six times lower than that offered by the greatest European tax haven for business in Ireland.

These practices are worried Steve Wozniaka, who is already away from Apple’s from some time, it still remains in close relationship with the company. Says: I don’t like the idea that Apple could not play fair, or not pay taxes as I do as a person. I have a lot of work, i travel a lot and I am paying over 50% tax on everything I earn. I believe that this is part of life and Apple should be doing so”

Tim Cook, Apple’s Chairman, believes the allegations for sucked from a finger, and “political”.

About Apple’s tax returns, because in December last year, we wrote about the problems of the Italian branch of the group. A subsidiary has agreed to pay 318 million euros in connection with the accusations of tax evasion. The newspaper “La Repubblica” gave for that, has blown in the years 2008-2013, the company failed to provide 880 million euros.

The settlement was the result of the investigation that led prosecutors from Milan-stresses the BBC on its website. American headquarters earlier denied the application of practices which lead to the avoidance of taxes from the profits generated worldwide. The Italian branch of the group is subject to the European unit of Apple’s operating company based in Ireland. It’s in this country are some of the lowest corporate tax rates in the European Union. Investigators from Milan have drawn attention to the large gap in income generated by the Italian branch of the (estimated in 2008-2013 to over € 1 billion) and taxes paid by Apple. The BBC points out that Apple in Italy gave 30 million euros from this 1 bilion Euro income.

On the allegations of tax avoidance in the u.s. Apple boss Tim Cook answered, that the group “pays every dollar that is owed to the State.”