Apple CEO Tim Cook meets with Japanese Prime Minister Fumio Kishida
While not related to Cook’s meeting with the prime minister, Apple’s Japanese unit is being charged $98 million to cover back taxes that should have been collected by Apple for the bulk purchases of iPhone units by foreign buyers from Japanese Apple Stores. One transaction alone involved the purchase of hundreds of units at one time. Tourists staying less than six months in Japan are allowed to buy items without having to pay the 10% consumption tax. However, the exemption is disallowed if the items are being purchased for resale. Apple Japan amended its tax return.