Google agrees to pay $335 million in Italy tax dispute

06 May, 2017, 02:48 | Author: Elaine Woods
  • Google Settles Italian Tax Fight For $334 Million

Italy's settlement contrasts with a deal that the United Kingdom struck with the multinational last year, which received fierce criticism after it was agreed that Google would pay only £130m back in tax covering a 10-year period.

The tax agency said Google also agreed to sign an agreement ensuring "the future correct taxation in Italy" of company activities related to the country.

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

In late 2015, the Organisation for Economic Cooperation and Development released recommendations in a bid to claw back as much as $240 billion in lost revenue each year through suspicious tax practices across the globe, such as funnelling money through certain countries in order to pay a lower tax rate.

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Google's parent company Alphabet Inc has been in the firing line for booking income from higher-taxing markets in Europe through Ireland's lower tax regime. "We need firmer global rules governing digital companies and better dialogue between countries where they operate".

Google did not immediately respond to a request for comment.

The tax authority Agenzia delle Entrate said in a statement on Thursday that the settlement resulted from an investigation into Google's taxes between 2009 and 2013. The biggest controversy on European soil concerns the record amount of $ 14.2 billion, a tax that Ireland has ordered to demand from Apple. Finance Minister Michel Sapin said past year that France will not negotiate with Google but will follow the court.

It comes just two years after Apple coughed up €318 million for taxes owed to the Italian authorities. Tax police have told Amazon they believe the company has evaded around EUR130 million of taxes in Italy on EUR2.5 billion in sales effected through the company's Italian website between 2011 and 2015, according to people familiar with the matter.

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