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gamesindustryblog.com June 29, 2017


Google agrees to pay $335 million in Italy tax dispute

06 May 2017, 02:24 | Ignacio Smith

Google Settles Italian Tax Fight For $334 Million

People visit Google's booth at the GMIC in Beijing

Tax officials said the settlement also launches a process to determine Google's proper taxation level in Italy going forward.

The settlement is considerably higher than the £130 million pay out that the United Kingdom secured in unpaid taxes from Google a year ago.

However, a person familiar with the company's thinking said Google preferred to settle with Rome to bring to a close a controversy that has cast a negative light on the company in Italy.

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Individual countries and the European Commission have heaped pressure on technology giants to back-pay taxes avoided by booking income in countries such as Ireland and Luxembourg. Facebook didn't immediately reply to requests for comment.

Italy's tax office said the additional money Google will pay covers both its Italian and Irish units.

Dozens of Palestinians injured in West Bank clashes
However, the wording suggests Hamas considers this to be an interim step, not a way of ending the conflict. He said the new document was "a tool for the future but it does not mean we're changing our principles".

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

The US-based company has previously said it complied with tax rules in all the countries it operates in.

Amazon has defended its returns in Italy, saying its heavy investments in the country explain its low profits and therefore its tax bill.

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 companies insist that they are operating within the law: Apple chief executive Tim Cook memorably termed the notion of his company stashing cash overseas as "political crap".



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