Google agrees to pay $335 million in Italy tax dispute

Italian authorities alleged last year that the company avoided paying taxes on €1 billion worth of country-specific revenue during a four-year period beginning in 2009.

Italy has done a search for money and come up with 306 million euros from Google. The company, along with other global giants such as Apple and Starbucks, were accused of shifting their sales and profits across worldwide borders so they won't have to face high rates of corporate tax.

The settlement also puts an end to separate disputes covering the periods of 2002-2006 and 2014-2015.

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Meanwhile, Telegraph reports that Italy's tax agency declared it begins a process of drawing up an agreement that will guarantee Google pays the correct taxes in the country. The payment is also "referenced to both Google Italy and Google Ireland units".

Google said €303 million was attributed to Google Italy and the remainder to Google Ireland.

The French tax authorities have an investigation underway and reportedly will be looking for around one billion euros. Last August, the commission ordered Apple Inc.to return $13 billion to Ireland in unpaid taxes. The U.S. tech giant agreed to pay $334 million in back taxes to the Italian government the latest settlement for a tech company in the Eurozone.

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In late 2015, U.S. tech giant Apple paid 318 million euros to settle a dispute over its Italian earnings dating back to 2008.

Apple paid 318 million euros at the end of 2015 to settle a dispute over Italian earnings dating back to 2008.

Amazon has defended its returns in Italy, saying its heavy investments in the country explain its low profits and therefore its tax bill.

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(Copyright © 2015. All Rights Reserved.)
 
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