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Japan has asked Apple Inc AAPL to pay 13 billion yen ($98 million) in additional taxes for bulk sales of iPhones and other Apple devices to foreign tourists.
What Happened: The bulk sales of iPhones and Apple devices were incorrectly exempted from the consumption tax, according to Tokyo authorities, reported Nikkei Asia.
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According to the publication’s unidentified sources, bulk purchases of iPhones by foreign buyers were discovered at some Apple stores, with at least one transaction involving a shopper buying hundreds of handsets at once.
Apple did not immediately respond to Benzinga’s request for comment.
Check out more of Benzinga’s Europe and Asia coverage by following this link.
Japanese laws allow foreign visitors staying less than six months to buy products without paying the 10% consumption tax. However, the exemption does not apply to bulk purchases for resale purposes.
The Cupertino-based tech giant’s Japanese arm is believed to have filed an amended tax return, the report noted, adding that it voluntarily stopped offering tax-free shopping in June.
This came after Apple CEO Tim Cook visited the epicenter of Japan’s semiconductor industry earlier this month and said its investment crossed more than $100 billion in the Asian nation’s supply network over the last five years.
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Image and article originally from www.benzinga.com. Read the original article here.