TOKYO: An Apple Inc iTunes unit in Japan was ordered to pay some 12 billion yen (US$118mil/RM490mil) in tax by local authorities after underreporting income, media reported Sept 16. The unit has since paid the amount, the reports said. Apple and other multinational companies have come under much tax scrutiny from governments around the world. The European Union has ordered Apple to pay Ireland €13bil (RM60.28bil) in back taxes after ruling it had received illegal state aid. Apple and Dublin plan to appeal the ruling, arguing the tax treatment was in line with EU law.

Source: The Star September 16, 2016 09:45 UTC