Apple ordered to pay $118 million in back taxes in Japan
 

Apple ordered to pay $118 million in back taxes in Japan
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Apple has been slapped with yet a**ther tax bill, this time for $118 million in Japan.*

The company was ordered to pay 12 billion yen, or about $118 million, in back taxes to the Japanese government, according to the Financial Times, which cited Japanese media reports.*

The ruling holds Apple liable for withholding tax from a local subsidiary in Japan, which it paid to an Irish holding company.*

Apple's most recent high-profile bill was for $14.5 billion, or €13 billion, owed to Ireland, as ordered by a European Union commission.

The EU claimed that Apple's tax arrangement with Ireland allowed the company to avoid taxes on its profits. Apple is accused of funneling profits to a special subsidiary in Ireland, which the country supposedly agreed to barely tax. Read more...

More about Business, European Union, Ireland, Iphone 7, and Japanhttp://feeds.feedburner.com/~r/Mashable/~4/1F38Rm3qlg4