05 May 2017, USA:
Tech giant Google has agreed to pay $334 million to the Italian government to cover a back tax bill, the latest settlement by a U.S. tech company for business in Europe.
Google confirmed that it would pay the back taxes to Italy, on top of what it already paid during 13 years of operations through 2015 as per the report by NY Times. It paid over 130 million pounds, or $168 million last year in a similar settlement with the British tax authorities, although critics said the clawback should have been bigger. Attention is now likely to turn to an investigation by the French tax authorities that could lead to a bill this year of more than $1 billion for Google. The company says that it has paid its fair share in France, but that it is cooperating with the inquiry.
This is the second settlement between a U.S. tech giant and the Italian tax authorities. Apple Inc. agreed at the end of 2015 to pay about €318 million to end a dispute in which the company allegedly failed to pay almost €900 million in taxes between 2008 and 2013. (Image- Google blog post)
- Apple Patents Charging Devices Wirelessly Using Wi-Fi Routers!
- New Leaks Confirm- Google Pixel 2 to be Launched Soon