Apple was accused of avoiding and evading tax dues in France. The amount Apple will pay as settlement is not clear yet
Cupertino based tech giant Apple has agreed to settle a 10 year long tax battle with France. As per a report published by Reuters, the French media has put the tax settlement amount at around 500 million euros ($571 million).
The report read, “As a multinational company, Apple is regularly audited by fiscal authorities around the world, Apple France said in a statement. It added, “The French tax administration recently concluded a multi-year audit on the company’s French accounts, and those details will be published in our public accounts.”
Irish government’s tax deal with Apple
It is to be noted here that the Irish government had earlier offered a tax deal to Apple. However, the deal was termed illegal by the European Union. The Union had also ordered Ireland to collect €13B ($14.8B) as back-tax from Apple.
Both Apple and Ireland government had appealed against the ruing earlier. France had argued against the appeal by saying that Apple products sold in France were liable for taxes applied in the country. Reuters said that Apple has acknowledged the deal, but has not yet disclosed the amount it will be paying.