CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

Google to pay 306 million euros to settle Italian tax dispute

Google to pay 306 million euros to settle Italian tax dispute

Alphabet Inc's (GOOGL.O) Google has agreed to pay 306 million euros (£260 million) to settle a tax dispute with Italy, the company and the country's tax authority said on Thursday.

Last year Italian tax police alleged that Google had not paid tax on about 1 billion euros of Italian revenue between 2009 and 2013.

"In addition to the taxes already paid in Italy during those years, Google will pay another 306 million euros," a spokeswoman for the U.S. company said in an email.

Both Google and the Italian tax office said the agreement covered the years between 2002 and 2015.

Alphabet has been accused in Italy and other countries of avoiding taxes by booking income earned in higher-taxing European markets through a unit based in low-tax Ireland.

The U.S. company has previously said it complied with tax rules in every country it worked.

In a separate statement on Thursday the Italian tax office said the amount of more than 306 million euros which Google would pay was referenced to both Google Italy and Google Ireland units.

"With Google a process will be kicked off to come up with preventive agreements for correct taxation in Italy in the future for operations that regard our country," the tax office said.

(Reporting by Manuela D'Alessandro and Stephen Jewkes; Editing by Greg Mahlich)

http://uk.reuters.com/article/uk-google-italy-tax-idUKKBN1801CR

MORE NEWS

British stockbroker at centre of £940m money-laundering investigation allegedly involving ...

British stockbroker at centre of £940m money-laundering investigation allegedly involving Venezuela's president
A British stockbroking firm is embroiled in a $1.2billion (£940million) Venezuelan money-laundering scandal. Fake investment schemes and a ...

Macron scraps fuel tax rise in face of gilets jaunes protests

Macron scraps fuel tax rise in face of gilets jaunes protests
French government drops measure from budget after weeks of protests that left parts of Paris in flames.The French government has bowed ...

Panama Papers: Four charged in US with fraud and tax evasion

Panama Papers: Four charged in US with fraud and tax evasion
Four men have been charged in the US with fraud and tax evasion in connection with investigations prompted by the leaked Panama Papers. ...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA