Google agrees to pay Italy $340m to settle tax evasion investigation
Google acknowledged the settlement in statement, saying it resolves “a tax audit ... without litigation.”
Google was found to be a monopoly in the search and advertising sectors by Amit Mehta, federal court judge. Photo: AP
Italian prosecutors on Wednesday (19 February) said they will seek to drop a tax evasion investigation against Google after the tech giant agreed to pay a 326 million euro ($340 million) settlement.
Milan prosecutors had opened an investigation against Google for failure to pay taxes on earnings in Italy from 2015-2019. The investigation focused on revenues from the sale of advertising, and cited the presence of servers and other infrastructure in Italy.
Google acknowledged the settlement in statement, saying it resolves "a tax audit ... without litigation."
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Tech giant Google previously paid over $1 billion to French authorities to settle a years long dispute over allegations of tax fraud.
