Apple will pay back taxes in France

Apple told Reuters that it’s reached a deal with France to pay an undeclared amount of back-dated tax, with French media putting the sum at around 500 million euros ($571 million).

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“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.”

In August 2017 Bloomberg reported that France was working with Germany and other partners to plug loopholes that have allowed companies like Apple to minimize taxes and grab market share in Europe at the expense of the continent’s own companies.

“Europe must learn to defend its economic interest much more firmly -- China does it, the U.S. does it,” French Finance Minister Bruno Le Maire said. “You cannot take the benefit of doing business in France or in Europe without paying the taxes that other companies -- French or European companies -- are paying.”