An Apple executive has avoided jail as part of an Italian investigation into Apple’s failure to pay corporate tax in the country.
The executive in question, the head of Apple’s Irish-based Apple Sales International, was being investigated as part of the case. Apple agreed to pay 318 million euros last year to close the investigation, but the exec could still have been forced to spend six months in prison for his part in it.
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Instead, he was able to come to a settlement agreement in which a six-month jail sentence was converted into a fine of 45,000 euro ($49,126). Under Italian law, a settlement agreement does not constitute an admission of guilt.
Milan prosecutors involved with the allegations have reportedly asked for a case asked two further managers from Apple’s Italian subsidiary to be dropped.
Italy has focused on cracking down on corporate tax avoidance at a time when its public finances are being squeezed. Multinational tech giants have been under particular scrutiny.
As with Apple’s large 13 billion euros ($14.52 billion) bill for unpaid back taxes in the Republic of Ireland, Apple has continued to insist that it is behaving entirely properly. During the “Inside Apple” episode of 60 Minutes, Tim Cook told Charlie Rose that accusing Apple of tax avoidance was, “total political crap.”
Source: Reuters
