Published: Sat, May 06, 2017
Markets | By Terence Owen

Google agrees 306 million euro Italy tax deal

Google agrees 306 million euro Italy tax deal

Alphabet Inc.'s Google has agreed to pay around EUR306 million ($333 million) in back taxes in Italy, settling one of multiple legal and regulatory battles that have dogged the tech giant in Europe.

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

However, the announced settlement today covers a much longer period starting from 2002 and only ending in 2015.

Google said it remained committed to Italy.

The settlement comes after reports in January found that Google had offered to pay a tax bill of up to €280m to Italy's tax authorities.

Google confirmed it had reached an agreement with the authorities without commenting on whether it accepted the revenue's calculations.

North Korea Says Detained American Had Intended To 'Subvert The Country'
North Korea has stepped up its weapons tests, firing dozens of missiles and detonating two nuclear bombs since the start of past year .

Health Department announces Mental Health Month
Individual is experiencing a mental health crisis (non-medical) should call the BHD 24/7 crisis line at 414-257-7222. Campaign Coordinator Simon Oosterman says the Governments ongoing denial of the mental health crisis is astounding.

Do you work overtime? Here's what you need to know
The House passed a bill on May 2 that would amend the Fair Labor Standards Act and change the private sector "comp time" rules. The public sector already has this option available and Republicans say that private business should as well.

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

Google and other American companies in Europe are often accused of using tricks to avoid paying higher taxes by funneling income through lower tax countries like Ireland.

In late 2015, United States tech giant Apple paid 318 million euros to settle a dispute over its Italian earnings dating back to 2008. France's finance minister Michel Sapin said a year ago that he won't negotiate a deal with Google, but will instead pursue legal action.

'This latter point applies the Italian tax code in a way in which the UK's diverted profits tax (unfortunately named the Google Tax) doesn't'. reported that Treasurer Scott Morrison was looking to wring billions from Google and other big companies.

Like this: