amazon to settle italy tax row with 100 mln euro
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Amazon to settle Italy tax row with 100 mln euro

Arab Today, arab today

Arab Today, arab today Amazon to settle Italy tax row with 100 mln euro

Amazon is stumping up 100 million euros to end an Italian tax fraud probe .
Milan - Arab Today

Amazon has agreed to pay the Italian taxman 100 million euros ($118 million) to settle a dispute over suspected tax fraud, the Italian revenue service said Friday.

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 euros 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 euros to end a tax fraud investigation.

Last May, Google agreed to pay 306 million euros.

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".

Amazon said the deal concerned "historical matters" and that it created an Italian country branch in 2015 "with all retail revenues, expenses, profits and taxes due now accounted for in Italy".

In a statement, Amazon also said that it had invested more than $800 million in Italy since 2010 "and created over 3,000 jobs".

US web giants are regularly accused of trying to wiggle out of their tax obligations, often by choosing lower-tax countries for their headquarters.

The European head office of Google is located in Ireland, where corporate tax rates are amongst the continent's lowest.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

amazon to settle italy tax row with 100 mln euro amazon to settle italy tax row with 100 mln euro

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

amazon to settle italy tax row with 100 mln euro amazon to settle italy tax row with 100 mln euro

 



GMT 20:28 2017 Monday ,13 February

EgyptAir to receive second next-generation Boeing

GMT 05:13 2017 Thursday ,16 February

Central bankers take up arms against protectionism

GMT 12:53 2017 Friday ,13 October

S&P warns of Catalan recession if crisis drags

GMT 13:37 2017 Thursday ,16 March

Smith leads Australia's revival in Ranchi test

GMT 18:39 2017 Tuesday ,11 April

Comedian John Bishop returns to Dubai

GMT 21:08 2017 Tuesday ,31 January

Motorcity honoured as ‘Distributor Champion’

GMT 00:14 2017 Tuesday ,28 February

Mohammad receives Pakistani Chief of Army Staff

GMT 23:37 2017 Tuesday ,15 August

Civilians Killed in Deadly Blast in Afghanistan

GMT 08:27 2011 Tuesday ,07 June

3 women charged with robbing vets\' graves

GMT 20:01 2014 Wednesday ,10 December

27 hard questions you need to ask

GMT 16:44 2017 Monday ,25 December

DFM welcomes listing of AWTAD on "Second Market"

GMT 23:23 2017 Sunday ,24 December

Abdullah bin Zayed meets Canada's Minister of Defence

GMT 18:44 2016 Sunday ,04 September

Israel Strikes Northern Gaza Strip

GMT 18:17 2012 Friday ,18 May

Carmen Suleiman hits the books

GMT 09:32 2017 Wednesday ,20 December

Gayeon Lee appoints Dyelog

GMT 06:39 2014 Monday ,01 September

May 21 - June 20
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday