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First published in the Wall Street Journal, 28 January 2016.
Italian tax authorities said Thursday that they are pursuing Alphabet Inc.’s Google for around EUR 300 million (about USD 329 million) in back taxes. Google sparked controversy when it settled another long-running tax probe by U.K. authorities by agreeing to pay GBP 130 million in back taxes and interest covering a 10-year period. The U.K. is Google’s second- largest market after the U.S., with USD 5.15 billion in revenue for the first nine months of 2015.
Italian tax authorities said Thursday that they are pursuing Alphabet Inc.’s Google for around EUR 300 million (about USD 329 million) in back taxes. Google sparked controversy when it settled another long-running tax probe by U.K. authorities by agreeing to pay GBP 130 million in back taxes and interest covering a 10-year period. The U.K. is Google’s second- largest market after the U.S., with USD 5.15 billion in revenue for the first nine months of 2015.
Discover more: Countries seek back taxes from Google
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Despite this deal, the tax headache may not be over for Google. Google could soon join the likes of Apple, Anheuser-BuschInBev, BP, Starbucks and Fiat in Margrethe Vestager’s spotlight.