Apple has had to pay 452 million Chinese yuan ($71 million US) in back taxes in China, along with a 65 million yuan ($10 million) fine after an audit by the Ministry of Finance, which has recently been cracking down on taxation of US companies, showed the company understated its sales and over-reported its profit. The iPhone maker, which has recently risen from seventh to third place in the Chinese market (after briefly reaching the top spot) did not contest the finding.
