Google Will Pay £260m to Italian Government in Tax Avoidance Fines, Paid Just a Fraction of This Amount to UK

Google — a company that has depended on state-backed research, innovation and legal protections, and boasted about its ability to dodge national taxes — has reached another deal with a government to pay back some of the taxes it is accused of illegally dodging.

It has agreed to pay the Italian government €334 (£260m).

Reuters reported at the time that Google’s Chairman, Eric Schmidt, explained in response to the UK’s Parliamentary Public Accounts Committee investigation into the tax-avoidance strategies of Google, Amazon and Starbucks, that he was “very proud” of Google’s corporate structure. He added that:

“We are proudly capitalistic. I’m not confused about this.”

The Italian deal mainly covers the period 2009-2015 while the UK deal covered 10 years. Google’s revenues are 10 times higher in the UK.

Read the full story in The Telegraph here: