Google agrees to pay Italian tax authority €306mn

Google agrees to pay Italian tax authority €306mn

Google on Thursday became the latest company to agree to pay back taxes, in this case 306 million euros, or $334 million, to Italian authorities for its operations in the country from 2002 to 2015.

Sergio Mazzei, a spokesman at the Italian revenue agency, said Google will now begin paying tax in Italy based on the revenue it makes inside the country.

However, the announced settlement today covers a much longer period starting from 2002 and only ending in 2015.

'In addition to the corporation tax already paid in Italy for these years, Google will pay an additional €306m. Apple dashed out 300 million euros to Italian authorities in 2015, while Google closed a $185-million deal with the United Kingdom previous year.

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.

The deal will also pave the way for more agreements that Google pays taxes on future income it produces in Italy.

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American lawmakers, meanwhile, are demanding that US-based multinationals repatriate more of their profits and pay taxes on them.

The settlement comes after reports in January found that Google had offered to pay a tax bill of up to €280m to Italy's tax authorities.

The Commission previous year accused Ireland of helping Apple to artificially lower its tax bill for two decades and ordered the government to claw back a record-breaking €13bn.

The new rules are expected to come into effect in 2018. Apple paid €318m for taxes due between 2008 and 2013.

Google is now facing another case in France where the authorities believe it owes €1.6 billion in back taxes.

Finance minister Michel Sapin said previous year that France wouldn't negotiate with Google, but would instead pursue the company through the courts.

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