Apple agrees to €500m tax settlement with France

Apple pays France €500 million in back taxes

Apple has been slapped with a hefty tax bill in France, according to several reports.

The iPhone maker has been under pressure to pay taxes to European Union countries after it was found to have engaged in legal financial chicanery to drastically mitigate its tax burden.

This is not the first time Apple has had to pay large amounts in back taxes in the European Union.

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

Apple has reached an agreement with French authorities over 10 years of back taxes, the USA firm told AFP on Tuesday, confirming information published by the French magazine L'Express. DVNI struck a similar deal with Amazon a year ago and is now examining other major tech firms, including Google, Facebook, and Microsoft.

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"We know the role taxes play in society and we pay our taxes in all the countries where we operate, in complete conformity with laws and practices in force at the local level".

France has millions in back taxes coming to it from Apple.

French Economy Minister Bruno Le Maire has called the question of how and where global companies pay their taxes "a major issue in the 21st century". A deal was finally reached in December previous year, the outlet claims.

Most of its sales are booked in Ireland where the U.S. firm has its European headquarters, and which has a low corporate tax rate. In September previous year, the company paid Ireland 14 billion euros, recovering what EU's regulators called Ireland's "illegal aid" to Apple.

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