Tech giant Google agreed to pay $334 million to the Italian government to cover a back tax bill, the latest settlement by a USA tech company for business in Europe.
"With Google a process will be kicked off to come up with preventive agreements for correct taxation in Italy in the future for operations that regard our country", the tax office said.
The agreement not only covers 2009-2013, the period under investigation, but also separate disputes related 2002-2006 and 2014-2015. The company made a similar deal with the United Kingdom one year ago, providing $ 185 million to the UK tax authorities.
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Other European countries have also accused Google of avoiding taxes by booking income earned in higher-taxing markets through its Ireland unit, where taxes are lower.
Days after it emerged that Italian tax agencies were pursuing online retail giant Amazon for taxes worth EUR130m (USD142m), it was revealed that Google will pay a EUR306m (USD335m) tax settlement.
The Australian government also introduced legislation of the same name in March hitting multinationals - with global revenue of more than AU$1 billion and Australian revenue of greater than AU$25 million - with a 40 percent tax on all profits.
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The US-based company has previously said it complied with tax rules in all the countries it operates in. Last August, the commission ordered Apple Inc.to return $13 billion to Ireland in unpaid taxes.
Last year, Finance minister Michel Sapin said France would not negotiate with Google.
News.com.au reported that Treasurer Scott Morrison was looking to wring billions from Google and other big companies. In late 2015, Apple Inc. agreed to pay about EUR318 million to end a dispute in which the company allegedly failed to pay nearly EUR900 million in taxes between 2008 and 2013.
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'This latter point applies the Italian tax code in a way in which the UK's diverted profits tax (unfortunately named the Google Tax) doesn't'.