Published: Sat, May 06, 2017
Markets | By Lucia Cruz

Google agrees to pay 306 mln euros to settle Italy tax dispute

Google agrees to pay 306 mln euros to settle Italy tax dispute

Following a long-running case centred on the appropriate amount of corporation tax Google should pay on its sales in Italy, the search engine giant has agreed to pay a sum of €306m to the Italian tax authorities.

The agreement is expected to put an end to a several disputes, which include a criminal probe that saw police accuse Google of booking around its revenues from Italy in Ireland between 2009 and 2013.

The sum, announced on Thursday, also closes other disputes dating between 2002 and 2015.

"In addition to the taxes already paid in Italy during those years, Google will pay another 306 million euros", a Google spokeswoman told Reuters. We remain committed to Italy and will continue to help grow the online ecosystem'.

Miles Dean, founding partner of Milestone International Tax Consultants, said: 'Commentators in the United Kingdom will no doubt look at what has happened in Italy and conclude that HMRC is either turning a blind eye to what Google are doing in the United Kingdom, are treating Google favourably as against domestic business, or are simply incompetent.

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The Australian government also introduced legislation of the same name in March hitting multinationals - with global revenue of more than AU$1 billion and Australian revenue of greater than AU$25 million - with a 40 percent tax on all profits. 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.

Finance minister Michel Sapin said a year ago that France wouldn't negotiate with Google, but would instead pursue the company through the courts.

It comes just two years after Apple coughed up €318 million for taxes owed to the Italian authorities.

News.com.au reported that Treasurer Scott Morrison was looking to wring billions from Google and other big companies.

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