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Title: News: Apple required to pay unpaid back taxes, fines in China Post by: HCK on September 12, 2015, 03:00:23 am News: Apple required to pay unpaid back taxes, fines in China
Apple has found itself in hot water in China, CNN Money reports, with the Chinese Ministry of Finance revealing that Apple had misreported sales and profits in the country. The company failed to report 8.8 billion yuan ($1.4 billion) in sales in 2013 while also overstating its profit by 5.4 billion yuan ($220 million) that same year. Apple has been required to pay 452 million yuan ($71 million) in back taxes to the Chinese government, and a 65 million… Source: News: Apple required to pay unpaid back taxes, fines in China (http://www.ilounge.com/index.php/news/comments/apple-required-to-pay-unpaid-back-taxes-fines-in-china) |