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Apple said to be paying 318m euros to Italy's tax office

TARGET OF TAX INQUIRIES: A figure in the likeness of Apple founder Steve Jobs in a craft shop in Naples, Italy. Italian prosecutors have been investigating allegations that Apple failed to pay 879 million euros in taxes in 2008-13.


APPLE Inc will pay Italy's tax office 318 million euros (S$490 million) to settle a dispute over allegations it failed to pay taxes for six years, a source with direct knowledge of the matter said on Wednesday.

The maker of iPhones and iPads will also sign an accord this year