Apple reaches deal to pay back taxes to France

Apple reaches deal to pay back taxes to France
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Tech giant Apple has reportedly reached a deal with French authorities to pay back about $571 million the country said was owed in undeclared back taxes.

Reuters reports that Apple France confirmed the agreement struck with French officials on Tuesday, while not confirming the final price tag. French media, Reuters reports, estimated the fine to be around 500 million euros.

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“As a multinational company, Apple is regularly audited by fiscal authorities around the world,” Apple France said, according to Reuters. “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.”

Tuesday's agreement comes almost three years after the European Commission made a similar ruling in response to tax benefits Apple received from Ireland, which the commission declared illegal and ordered Apple to repay to the tune of $14.5 billion.

French magazine L'Express reports that Apple and French authorities struck the deal at the end of December, though it was first made public this week.

TechCrunch reported last month that France plans to begin taxing tech companies that report profits in foreign countries based off of revenue generated in France. Other European countries are reportedly expected to follow suit.