WASHINGTON — European Union countries, short on cash and stable fiscal footing, are turning to American corporations to try to squeeze them out of money. The British, French and Italian governments made a run at Amazon and Google, but now Italy is turning its eyes to Apple.
Reuters reported that Apple may have committed tax fraud, but it could be an effort to squeeze money out of the American business corporation.
Italy announced it is investigating Apple for hiding 1 billion euros, or $1.34 billion, from Italian tax authorities. This comes almost directly after the Italian government investigated Google for evading tax laws in Italy.
Apple, whose iPhone smartphones and iPad tablets are popular, will know have to stave off fines or threats of fines from the Italians. The company is struggling to overcome chief competitor Samsung in China and saw its pre-holiday sales projections fall short.