78014
Amazon Settles Italy Tax Row
Amazon Settles Italy Tax Row

Amazon Settles Italy Tax Row

Amazon Settles Italy Tax Row

Amazon has agreed to pay the Italian taxman €100 million ($118 million) to settle a dispute over suspected tax fraud, the Italian revenue service said, AFP reported. Italian authorities have been investigating Amazon for tax evasion in the period between 2011 and 2015, but the deal meant the case is now closed, it said in a statement. Citing investigators, Italian media reported in April that Amazon had established a mechanism to declare some €130 million of Italian profits in Luxembourg, which has a much lower corporate tax rate. Italy has previously forced other US internet giants to pay up for taxes owed, including Apple, which in December 2015 agreed to pay €300 million to end a tax fraud investigation. Last May, Google agreed to pay €306 million. The tax authorities said Friday that they would now seek “preventative agreements” with Amazon to ensure that the company properly pays its taxes on Italian earnings. It also “confirmed its commitment to a policy of fiscal control concerning Italian operations of internet multinationals”.

 

Short URL : https://goo.gl/5zh2BL
  1. https://goo.gl/mL88PB
  • https://goo.gl/UqZcaS
  • https://goo.gl/naEWux
  • https://goo.gl/uMQohB
  • https://goo.gl/MLJgAE

You can also read ...

Shares in German and other European car manufacturers fell on Friday after Trump threatened  to impose a 20% tariff on cars imported from the bloc.
An industrial powerhouse built on massive exports and a...
Airbnb Exodus Spawns Business Boom in Japan
As Airbnb home-sharers in Japan quit the market in droves,...
Companies like Toyota need AI talent to develop self-driving technologies, but the competition is intense with an estimated shortfall of 700,000 engineers.
China and the US are scrambling to secure one of the world's...
Thai SMEs Can Cash In on China’s Vast Online Market
China offers great opportunities to Thai small and medium-...
Escalation of protectionist measures could trigger a fresh global economic downturn.
Policymakers can maintain the current economic upswing beyond...
South Africa Gov’t to Address Skills Shortage
The South African government will continue to prioritize maths...
The symposium emphasized the importance of capacity building and skills development as an integral component of the digital agenda.
The 2018 International Telecommunication Union’s Global ICT...
The People’s Bank of China
China’s central bank said on Sunday it would cut the amount of...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus