Google agrees to pay $334M in back taxes in Italy

Internet giant Google has agreed to pay Italy €306 million in taxes, ending a dispute that has dragged on for over a year, according to reports on Thursday.

Google worked out a similar deal with Britain previous year, agreeing to pay $185 million in back taxes.

Both Google and the Italian tax office said the agreement covered the years between 2002 and 2015. Of these, "over 303 million are attributed to Google Italy and less than three million to Google Ireland". It recalled that tax police acting under the instructions of Milan prosecutors conducted probes relating to the 2009-2013 period.


Italy has done a search for money and come up with 306 million euros from Google.

Google and other global giants such as Apple and Starbucks have been accused of shifting their sales and profits across worldwide borders to avoid paying high rates of corporate tax.

In a statement, Amazon said it pays "all the taxes we are required to pay in every country where we operate".


As part of the deal, Google will agree to pay taxes on future income - largely related to advertising sales - generated in Italy, according to Italian tax authorities.

Regulators both for the European Union and individual countries allege the companies then transfer profits back to their outposts in the low-tax countries to avoid paying higher rates elsewhere.



Popular
  • Rangers' Hamels scratched with tightness in right oblique

    Rangers' Hamels scratched with tightness in right oblique

    Hamels retreated to the clubhouse to receive treatment, and will return to Arlington on Wednesday for additional evaluation. Hamels has a career 8.6 K/9 mark, but is sitting at a putrid 4.1 through one month, while his velocity is also down.
    Texas House Passes Senate Bill 4

    Texas House Passes Senate Bill 4

    Texas lawmaker Victoria Neave hasn't eaten since Sunday, she says, when she received a Holy Communion wafer during Mass. Police officials who don't cooperate risk a Class A misdemeanor charge and steep fines under the bill.
    Sanders urges party to go beyond comfort zone

    Sanders urges party to go beyond comfort zone

    That's a "right." And Bernie Sanders is expected to apologize for campaigning for a candidate who's not stoked enough about it. On Monday, Sanders kicked off the red-state tour with Perez, who narrowly defeated Sanders' preferred choice for the job, Rep.
  • Beating Spurs in FA Cup has no bearing on league, says Conte

    Beating Spurs in FA Cup has no bearing on league, says Conte

    With 78 points from 33 matches, Chelsea now lead second placed Tottenham with 7 points, but Pochettino's men have a game in hand. But midfielder Pierre-Emile Hojbjerg says the calibre of the opposition means they will have no trouble motivating themselves.

    Chris Jericho Is The New WWE United States Champion

    Until The Revival are back as a fully healed unit, Sheamus and Cesaro certainly offer a most challenge to the acclaimed tag team. He can't work a WWE schedule and a touring schedule at the same time , so by default, he can't be the United States Champion.
    Apple Hires NASA Augmented Reality Expert Jeff Norris

    Apple Hires NASA Augmented Reality Expert Jeff Norris

    Norris was also involved with a program that sent Microsoft's HoloLens headsets to astronauts on the International Space Station. Having joined Nasa in 1999, Norris first helped create software for controlling the space agency's Mars rovers.
  • Nick Cannon Loses Childhood Friend During Sunday's Shooting In San Diego

    Nick Cannon Loses Childhood Friend During Sunday's Shooting In San Diego

    Griffin also said that "Ki" was the first person shot and he was hit three times - twice in one leg and once in the other. Police shot and killed a 49-year-old man suspected of shooting seven people Sunday at a birthday pool pa.
    Ford 1Q earnings down on recalls, lower sales; revenue rises

    Ford 1Q earnings down on recalls, lower sales; revenue rises

    And adjusted pre-tax profit came in at $2.2 billion, down $1.6 billion from 2016. Analysts were looking for EPS of $0.36 and revenues of $34.7 billion.
    What Trump promised vs. what he accomplished in his first 100 days

    What Trump promised vs. what he accomplished in his first 100 days

    The ABC/WaPo poll was conducted April 17-20, in English and Spanish, among a random sample of 1,004 adults. Forty-two percent say a great deal or good amount, but 56 percent say not much or nothing.
  • British PM May says June election result 'not certain' despite front-runner status

    British PM May says June election result 'not certain' despite front-runner status

    The announcement marked a U-turn for May, who had repeatedly said she would not seek an early vote. Mrs May says the poll is needed because Westminster is divided over Brexit.

    Bradley Scores 23, Celtics Eliminate Bulls 105-83

    Celtics coach Brad Stevens would not comment on which members of the team would be traveling to the funeral besides Thomas. Jimmy Butler paced the Bulls with 23 points, who were without point guard Rajon Rondo in the final game of their season.
    Star Wars: The Last Jedi is Getting Its Own VR Experience

    Star Wars: The Last Jedi is Getting Its Own VR Experience

    Colin Trevorrow (" Jurassic World ") will direct the film from a script penned by his longtime writing partner, Derek Connolly. As for the untitled " Indiana Jones 5 ", the 2020 release date will come when iconic actor Harrison Ford will be 77 years old.

CONNECT