Apple in Italy and company commanders in the country has been under investigation for, among other things to have given insufficient information about earnings between 2008 and 2013.
According to the newspaper La Repubblica owe Apple 880 million euros, but Wednesday was it is known that the company and the government have reached a settlement to pay a penalty tax of 318 million euros.
The case comes up while criticism increases against multinational companies which have made use of sophisticated tax planning. The European Commission is in the process of examining whether the company has availed itself of the tax holes in an unfortunate and illegal manner.
Companies like Apple, Ikea and Pepsi has saved billions of dollars in tax after entering into special and very favorable tax treaties including Luxembourg authorities.
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