Italy claims Apple owes them €1 billion in back taxes, Apple begs to differ

Italian authorities are claiming that Apple owes them money - namely €1 billion in taxes - and they want to collect. Apple, of course, says no way. Manuela D'Alessandro, writing for Reuters:

Apple pays every dollar and euro it owes in taxes and we are continuously audited by governments around the world. The Italian tax authorities already audited Apple Italy in 2007, 2008 and 2009 and confirmed that we were in full compliance with the OECD documentation and transparency requirements. We are confident the current review will reach the same conclusion.

Everyone wants to get more money, everyone wants to keep more money. Pretty much the oldest argument in history. Italy in particular needs euros and needs them badly, and Apple is a big, rich target.

Will Italian auditors find more money to tax? Will Apple prove their compliance? Something in between? Check out the article and then do your best "internet accountant" impression in the comments.

Source: Reuters