Italy gets Google to pay $335 million in tax arrears

People visit Google's booth at the GMIC in Beijing

Internet giant Google on Thursday agreed to pay 306 million euros to end a tax dispute in Italy, the company and the country's tax authority announced on Thursday.

The settlement also puts an end to separate disputes covering the periods of 2002-2006 and 2014-2015.

The deal will also pave the way for more agreements that Google pays taxes on future income it produces in Italy. Of these, "over 303 million are attributed to Google Italy and less than three million to Google Ireland".

A Google spokesperson said: "In addition to the taxes already paid in Italy during those years, Google will pay another 306 million euros".

Google was under investigation by the Guardia di Finanza (tax police) and the prosecutor for booking profits generated in the country in Ireland.

Capitals blow lead, win in OT
The Penguins lost the Game 3, 3-2 in overtime, but still lead the series 2-1. "We came here to win two games", Shattenkirk said. However, the chances of the Penguins winning two more rounds without Crosby, Kris Letang and Matt Murray are not great.

Last year Google also agreed to pay the Treasury £130m for around ten years of underpaid taxes in the United Kingdom, in a deal announced by the then-Chancellor George Osborne which was widely criticised as being too lenient. The company says that it has paid its fair share in France but that it is cooperating with the inquiry.

Google said it remained committed to Italy.

Google did not immediately respond to a request for comment. The U.S. tech giant agreed to pay $334 million in back taxes to the Italian government the latest settlement for a tech company in the Eurozone.

The European Commission estimated at the time that EU loses as much as €70 billion per year due to corporate tax avoidance.

News.com.au reported that Treasurer Scott Morrison was looking to wring billions from Google and other big companies.

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