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Italy Investigates Apple's Hidden Billion

2013-11-14 18:32:08| TechNewsWorld

Italian authorities are investigating Apple for allegedly hiding 1 billion euros -- about $1.34 billion -- from the taxman. Prosecutors in Milan claim that Apple didn't declare more than $250 million in 2010 and more than $1 billion in 2011. Apple's Italian subsidiary booked some profits with an Irish subsidiary, thereby lowering its taxable income in Italy, according to Italian sources.

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