Google Pays More than $1 Billion to Settle French Tax Cases
September 12 2019 - 11:55AM
Dow Jones News
By Sam Schechner
PARIS -- Google is paying more than $1 billion in fines and back
taxes to settle a pair of tax disputes in France, where it has
faced years of investigations into whether it has properly declared
all of its activity in the country.
The Alphabet Inc. subsidiary said Thursday that a court has
approved a EUR500 million ($553 million) fine it had agreed to in a
settlement of a tax-related probe with France's financial
prosecutor. The prosecutor has since 2015 been investigating Google
for aggravated tax evasion.
In addition, Google said it had earlier agreed to pay EUR465
million in back taxes to France's tax authority, which had for
years argued that Google was underpaying its taxes. The tax
authority had earlier issued Google a EUR1.11 billion tax bill for
the years from 2005 to 2010, but Google appealed and in 2017 a
French court threw the bill out.
"We have now settled tax and related disputes in France that
have persisted for many years," a Google spokesman said, adding
that prior settlement with the French tax authority was already
substantially reflected in Alphabet's prior financial results.
.
(END) Dow Jones Newswires
September 12, 2019 11:40 ET (15:40 GMT)
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