- Apr 12, 2001
Apple has reached a deal with French authorities to pay an undeclared amount of back-dated tax, according to multiple reports today.
Apple's French division confirmed the tax payment agreement to Reuters, but didn't disclose how much it had agreed to pay, although French media suggest the sum is around 500 million euros ($571 million).
France has been working diligently to stop tech companies like Apple from exploiting tax loopholes in the country. The loopholes are said to have allowed Apple to "minimize taxes and grab market share" at the expense of Europe-based companies."As a multinational company, Apple is regularly audited by fiscal authorities around the world," Apple France said in a statement. "The French tax administration recently concluded a multi-year audit on the company's French accounts, and those details will be published in our public accounts."
French President Emmanuel Macron is one of the leaders behind the tax crackdown on international tech companies, with a goal of bringing a more unified corporate tax system across the nineteen euro area states.
As noted by iPhon.fr, Apple and French tax authorities reached the agreement for the payment of several years of unpaid taxes in December, according to French newspaper L'Expansion. The agreement followed a meeting in October between Apple CEO Tim Cook and President Macron, in which both reportedly agreed that a solution would ultimately be enacted by the European Union rather than France.
Apple has had trouble with French tax activist groups accusing the company of wide-scale tax evasion and occupying its Parisian retail stores. In February 2018, Apple sued the activist group "Attac" for its protests in stores, but the High Court of Paris denied Apple's request for an injunction that would have blocked the group from protesting.
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Article Link: Apple Reaches Deal With France to Pay Estimated $571M in Back-Taxes