Google agrees to pay $335 million in Italy tax dispute

Google agrees to pay $335 million in Italy tax dispute

Alphabet Inc.'s Google has agreed to pay around EUR306 million ($333 million) in back taxes in Italy, settling one of multiple legal and regulatory battles that have dogged the tech giant in Europe.

Italy's tax agency said: "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 settlement with Google's Italian and Irish subsidiaries covers the 2002 to 2006 and 2009 to 2015 periods".

However, the arrangement may not benefit the United Kingdom, which has already accepted a much reduced, £130 million deal with Google previous year for lost tax revenue over...

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

Moreover, the agency confirmed its "commitment to pursuing a tax control policy" for multinationals operating in Italy.

Google did not immediately respond to a request for comment.

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"In addition to the taxes already paid in Italy during those years, Google will pay another 306 million euros", a spokeswoman for the USA company said in an email.

Ireland in December said it would appeal the European Commission's ruling that declared tax arrangements between Apple and Ireland - originally established in 1991 - had allowed the company to pay "substantially less tax" than rival companies, and were therefore illegal under state aid rules.

The U.S. company has previously said it complied with tax rules in every country it worked.

Local media reports say Amazon is next in the Italian tax agency's firing line.

As European lawmakers grapple with how much tax technology companies should pay on their overseas operations, industry executives are considering repatriating hundreds of billions of dollars under the Trump administration's proposed "tax holiday", which would shrink the current levy of 35 percent, before deductions, on such income.

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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