Apple to pay Italy 318 million euros, sign tax deal: source

December 30, 2015 12:54 PM

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MILAN U.S. tech giant Apple will pay Italy's tax office 318 million euros ($348 million) to settle a dispute and sign an accord next year on how to manage its tax liabilities from 2015, a source with direct knowledge of the matter said on Wednesday.

Italian prosecutors have been investigating allegations that Apple failed to pay corporate taxes to the tune of 879 million euros, sources told Reuters earlier this year.

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