Apple Agrees Deal with France to Pay $571 million in Back-Taxes

Apple Agrees Deal with France to Pay $571 million in Back-Taxes

Apple has reached a deal with French authorities to cover an amount of tax. Apple’s French division confirmed the tax payment arrangement to Reuters but didn’t disclose how much it had agreed to cover, although French media suggest the sum is approximately 500 million euros ($571 million). “As a multinational company, Apple is regularly audited by fiscal authorities around the globe,” Apple France said in a statement. “The French tax administration lately concluded an audit on the company’s French reports, and those details will be published in our public accounts.” 

France has been working to prevent tech companies like Apple from exploiting tax loopholes. The loopholes are believed to have enabled Apple to “minimize taxes and grab market share” at the expense of Europe-based businesses. French President Emmanuel Macron is among the leaders behind the tax crackdown on technology companies that are international, with a goal of bringing a unified corporate taxation system across the nineteen-euro field nations. 

Apple has had difficulty with tax activist groups inhabiting its own Parisian retail stores and accusing the business of wide-scale tax evasion. In February 2018, Apple resisted the activist group “Attac” because of its protests in shops, however, the High Court of Paris denied Apple’s request for an injunction that would have blocked the group from protesting.

You may be interested

Top 10 Best Hollywood Movies in 2019 | Action, Comedy, Drama
Entertainment
shares232 views
Entertainment
shares232 views

Top 10 Best Hollywood Movies in 2019 | Action, Comedy, Drama

moondela - Sep 07, 2019

[vc_row][vc_column][vc_column_text] Top 10 Hollywood action movies 2019, are you looking for action, comedy or drama? A choice of best 10 action, comedy and drama-packed movies released in…

Shazam! Ending, Post Credit Scene Explained! Spoilers!!!
Entertainment
shares329 views
Entertainment
shares329 views

Shazam! Ending, Post Credit Scene Explained! Spoilers!!!

moondela - Apr 05, 2019

[vc_row][vc_column][vc_column_text] In order to have a reputation as a more fleshed-out film studio, DC Comics doesn't just need the likes of Wonder Woman. It also needs films…

Bitcoin Raised by 15%, Since Last November
Business
shares329 views
Business
shares329 views

Bitcoin Raised by 15%, Since Last November

moondela - Apr 03, 2019

[vc_row][vc_column][vc_column_text] Bitcoin jumped suddenly on Tuesday, following months of relatively low volatility in an asset once known for its wild price swings. The price of the world’s…

Most from this category