Google agrees to pay $335 million in Italy tax dispute

That's how much Google has agreed to pay to Italian authorities in back taxes for its operations in the country from 2002 to 2015, which is not exactly setting a Silicon Valley precedent.

Last year Italian tax police alleged that Google had evaded paying taxes worth Euro 227 million ($248 million) between 2009 and 2013 in a move which was said could result in heavy punitive fines.

"We have also begun the process of drawing up an agreement that will ensure Google pays the correct taxes in Italy in the future", the tax agency said in a statement.

The sum also settles other disputes for the tax years 2002-2006 and 2014-2015.

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

Google said €303 million was attributed to Google Italy and the remainder to Google Ireland.

To read this article in one of Houston's most-spoken languages, click on the button below.

Clinton blames misogyny, FBI, Russia, herself for 2016 loss
She questioned Trump's recent suggestion he would be willing to meet with North Korean leader Kim Jong Un under the right circumstances.

Malcolm Turnbull to abolish 457 immigration work visas
Australia is known for its hard-line immigration policies and tough treatment of illegal immigrants. The reforms will reflect "pro Australian values", he said in an announcement on Facebook .

Madhya Pradesh chooses Jan-Dec as its financial year
He said it would be implemented by presentation of the annual State budget in December, 2017, instead of February-March, 2018. India has followed the April-March financial year since 1867 from the time of the British Raj.

But the fight against tax avoidance and tax evasion is not finished.

"We have reached a settlement with".

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. "We need firmer worldwide rules governing digital companies and better dialogue between countries where they operate".

The Italian probe is just one of a number of judicial problems facing Google in Europe, where it has also faced scrutiny from national tax authorities in France and the United Kingdom.

The biggest outstanding dispute in Europe concerns a record breaking €13 billion ($14.2 billion) tax bill that Ireland has been ordered to serve Apple.

Last year, Finance minister Michel Sapin said France would not negotiate with Google.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Abbas hopeful after Trump meeting
Three Republican senators urged a halt to such payments in a letter to Trump that reflected widespread opinion in Congress. Palestinians are losing hope in getting an independent country and an end to the Israeli occupation of the West Bank.

Uttar Pradesh: Poaching racket busted at skeet shooter's house
Meerut: A huge amount of cash, weapons and meat has been recovered in a raid conducted at a colonel's residence in UP's Meerut . Kumar also said, '117 kilograms of meat was also taken into custody which was kept in the refrigerator in 45 packets'.

Theresa May accused of 'opportunism' over election by EU Brexit negotiator
The announcement marked a U-turn for May, who had repeatedly said she would not seek an early vote. The majority of those people who voted for Brexit live in Labour's heartlands.

Schumer pushes to preserve tax deductions for middle class
Saturday night, telling the raucous crowd that the New Yorker was "weak on crime and wants to raise your taxes through the roof". This is in addition to an annual bill of $4.5 million for the city's fire department to protect Trump's wife and 10-year-old son.

OPEC heads for rollover, bigger oil cut unlikely - delegates
The S&P/TSX composite index was down 126.15 points to 15,416.99, after 90 minutes of trading. Brent crude, the standard for global oils, rose 62 cents to $48.68 a barrel in London.

Trump says he's willing to consider raising gas tax
Brady's answer reflected an assumption that infrastructure tax issues will be addressed separately by other House committees. The president indicated that the additional money would be directed toward highway construction and fix .

Trump seeks to upgrade US government IT services
In March, Trump signed a different order to overhaul the federal government. US taxpayers' data is also processed with systems more than 50 years old.

3 killed, 17 injured in cross-border firing by Afghanistan forces
After over a month of closure, Prime Minister Nawaz Sharif had ordered the reopening of the borders as a goodwill gesture. In Islamabad , the foreign ministry said it had summoned Afghanistan's chargé d'affaires to complain about the firing.

Profit falls at UK's Sainsbury's for third straight year
Sainsbury's said it made cost savings of £130 million as part of a three-year target to cut £500 million by the end of 2017/18. It is also ramping up plans to open 250 Argos Digital stores, the group added.

With 53 NFL draft picks, SEC leads nation for 11th straight year
The Dolphins may have gotten one five years ago when they added Ryan Tannehill in the first round of the 2012 draft. The 49ers drafted their second defensive player in the round, Alabama linebacker Reuben Foster, at No. 31.

Jay Cutler NFL Rumors: Former Star Quarterback Considering Broadcast Career
The Bears acquired Cutler from the Denver Broncos for multiple draft picks on April 3, 2009. Or maybe Cutler would simply rather wear a headset in the TV booth than on the sidelines.

Bill to Avoid Shutdown Funds Planned Parenthood Through September
As the bill stands, the abortion giant will receive full funding and continue to do over a third of the abortions committed in America.

Trump says the USA has told Korea it may terminate KORUS
The battery is already close to being deployed, after the USA began moving key components to its designated location in Seongju County on Wednesday.

New Hamas program softens language, but some goals remain
The group has said Mashaal's replacement is to be named later this month, after the completion of secret leadership elections. The document notably accepts the idea of a Palestinian state in territories occupied by Israel in the Six-Day War of 1967.

Trump cuts spark fears of global tax war
Mnuchin also said Monday that this tax overhaul package was this administration's version of a jobs bill , Bloomberg reports. This would be a huge giveaway to the rich, despite Mnuchin's earlier promises that the rich wouldn't get a tax cut.


More News

News
More News