Italian prosecutors plan to drop a tax evasion investigation against Google's European division after the company agreed to pay €326 million to settle a tax claim. The agreement covers the period between 2015 and 2019 and covers sanctions, penalties and interest.
Italian prosecutors announced their intention to drop a tax evasion investigation against Google 's European division after the tech giant agreed to a €326 million (£282 million) settlement. The agreement, reached on Wednesday, encompasses sanctions, penalties, and interest for the period between 2015 and 2019.
This follows a 2022 Reuters report stating that Italy demanded €1 billion in unpaid taxes and penalties from Google, seven years after the US company resolved a previous significant tax dispute with Rome authorities.Milan prosecutors alleged that Google failed to file and pay taxes on revenue generated in Italy, grounding their claim on the substantial digital infrastructure Google maintains within the country. This latest settlement echoes a 2017 case where Google paid €306 million to settle accusations of having a permanent presence in Italy, leading to a tax liability.The news comes amidst ongoing debates about global tax regulations for multinational corporations and the responsibility of tech giants to contribute fairly to the economies of the countries where they operate
GOOGLE TAX EVASION ITALY SETTLEMENT TECHNOLOGY
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