Apple Agrees to Pay France $571 Million in Back Taxes
Apple has been slapped with a hefty tax bill in France, according to several reports.
The tech giant has agreed with France’s tax authorities to pay 500 million euros ($571 million) in back taxes, Reuters is reporting, citing local media reports. The news agency confirmed that Apple and regulators had agreed to a tax bill. They didn’t announce publicly the amount of the agreement.
In a statement to Reuters, an Apple spokesperson said that the company had faced a “multi-year audit” in France. The spokesperson didn’t confirm an agreement with French authorities, but did say that “details” from the audit “will be published in our public accounts.”
For a company with nearly $250 billion in cash, a $571 million tax bill won’t do much to affect Apple. However, it’s the latest in a spate of issues Apple faces over its taxes.
The European Union previously sued Apple for $15.3 billion after accusing the company of paying too little in taxes through its European operations in Ireland. Apple continues to argue that its tax strategies in the country were legal and has appealed the decision. However, the company last year paid the sum to Ireland and kept it in escrow, pending its appeal.
It’s unclear whether Apple has already paid its back taxes in France or will do so at a later date. The company did not immediately respond to a Fortune request for comment.