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Apple to Pay 500 Million Euro Back-taxes to French Authorities

Apple to Pay 500 Million Euro Back-taxes to French Authorities

Enterprise & IT Feb 5,2019 0

Apple has reached a deal with France to pay back-dated tax, with French media L'Express putting the sum at around 500 million euros ($571 million).

“As a multinational company, Apple is regularly audited by fiscal authorities around the world,” Apple France said in a statement. “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.”

The French government is pushing for a European Union-wide tax on the world’s top digital and software companies.

French President Emmanuel Macron in under political pressure from activists who feel that tech giants don't pay enough taxes compared to other companies.

Europe hit Apple with a $15.4 billion tax bill in 2016 after deeming Ireland's tax breaks to Apple illegal. Apple paid back the sum.

Companies operating in Europe pay over 20 percent in taxes, but it's estimated that the tech giants pay less than half that. Europe might not even be able to pass the 3 percent tax on online revenue, as member states including Germany, Sweden and Ireland oppose it for various reasons.

Tags: Apple
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