Milan

Apple taxes in Italy only three million euros

$41.7 billion US earned globally, but Italian earnings low

Apple taxes in Italy only three million euros

Milan, August 14 - Despite earning $41.7 million US in its global operations in 2012, Apple said Wednesday that it lost money in Italy. And as a result, the global giant's two subsidiaries in Italy paid just three million euros in taxes in Italy last year. Apple's retail stores in Italy reported a pre-tax profit of 11.5 million euros on sales that almost doubled last year to 250 million euros from 127 million euros in 2011. But costs involved in expanding its Apple retail outlets helped it to write down its taxes.

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