Italy tax office reaches deal with Apple

MILAN

The Apple logo is pictured at a retail store in the Marina neighborhood in San Francisco, California April 23, 2014.

Robert Galbraith

Italy's tax office said on Wednesday it had reached a deal with U.S. tech giant Apple in a dispute over taxes but declined to comment on details of the settlement. La Repubblica newspaper reported on Wednesday that Apple had agreed to pay 318 million euros ($347.76 million), in line with the figure the paper said the Italian agency had asked for.
"Apple has agreed to our request," an agency spokesman said. He would not say how much the iPhone maker had agreed to pay.
Italian prosecutors have been investigating allegations that Apple failed to pay corporate taxes to the tune of 879 million euros ($964 million), sources told Reuters earlier this year.
Apple could not immediately be reached for comment.
(Reporting by Agnieszka Flak, editing by Isla Binnie)