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 Telegraphhttp://www.telegraph.co.uk/technology/2017/05/04/google-pay-306m-italy-tax-deal/ here: