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US tech giant Apple is under investigation in Italy for allegedly hiding 1bil euros (RM4.33bil) from the local tax authority, two judicial sources with direct knowledge of the matter told Reuters.
A new British tax on companies that shift profits out of the country and into tax havens will target inter-company fees for services like use of intellectual property, according to a Treasury document seen by Reuters.
Italian prosecutors have wrapped up an investigation into allegations US tech giant Apple failed to pay corporate taxes to the tune of €879mil (RM3.52bil), two sources said.
The Dutch government said it will cut up to 5,000 jobs at its tax authority, almost a fifth of total staff, in a multi-year reorganisation that will see more tax inspections carried out automatically by computer.
Under pressure to find resources for his promises of sweeping tax cuts, Italian Prime Minister Matteo Renzi is hoping to raise billions of euros by forcing multinational Internet firms to pay taxes on profits generated in Italy.
US tech giant Apple will pay Italy's tax office €318mil (RM1.495bil) 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 Dec 30.
Britain's opposition Labour party demanded that the finance ministry explain how it arrived at a back tax payment by Internet giant Google that has put the government on the back foot.
Creators of Pokémon Go said on Aug 3 the blockbuster mobile game has been released in Brazil just in time for the Rio Olympics which start on Aug 5.