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TechnologyGoogle will pay $550 million after French investigation over dodged taxes

19:46  12 september  2019
19:46  12 september  2019 Source:   theverge.com

Google, Facebook, Amazon to testify in U.S. against French digital tax

Google, Facebook, Amazon to testify in U.S. against French digital tax Google, Facebook, Amazon to testify in U.S. against French digital tax

Google has agreed to pay 500 million euros ($ 550 million ) in France in connection to a fiscal fraud probe. French financial prosecutors opened an investigation into the company's tax dealings four years ago. Investigators were probing the company to determine if it evaded taxes by failing to

The Times’ 13,000-word investigative report found the late Fred and Mary Trump transferred more than $ 1 billion in wealth to their children, paying less than 5 percent of the $ 550 million in taxes they should have paid under inheritance tax rates.

Google has agreed to pay a nearly $550 million fine to settle an investigation in France over its tax practices, Reuters reports.

Google will pay $550 million after French investigation over dodged taxes© Photo by Amelia Holowaty Krales / The Verge
Google reaps tax benefits from operating in Ireland

The company’s European office is headquartered in Dublin, Ireland, and like other companies, it reaps tax benefits from operating in the country. French officials had been probing whether Google failed to report all of its taxable work in France.

Along with the €500 million payment, a Google spokesperson said the company will also pay €465 million (about $515,000) in other tax payments.

Google, Facebook, Amazon reportedly testifying against France's digital tax

Google, Facebook, Amazon reportedly testifying against France's digital tax The tech giants will testify on Monday, says a report.

French prosecutors have been looking into Google 's activities in Europe, suspecting the tech giant of failing to pay all necessary taxes on its profits in France.

France’s financial prosecutor office earlier said Google had agreed to pay half a billion euros in fine to settle the four-year old investigation . “These agreements include a payment of 500 million euros announced today by a French court, as well as an amount of 465 million euros in additional taxes

“We have now settled tax and related disputes in France that have persisted for many years,” a Google spokesperson said in a statement. “The settlements comprise a €500 million payment that was ordered today by a French court, as well as €465 million in additional taxes that we had agreed to pay, and that have been substantially reflected in our prior financial results. We continue to believe that the best way to provide a clear framework for companies that operate around the world is co-ordinated reform of the international tax system.”

The fine is small for a revenue behemoth like Google, although it follows another recent fine from the United States Federal Trade Commission. Earlier this month, the FTC announced that Google would be penalized $170 million over allegations that YouTube violated a children’s digital privacy law.

Still, the European Union is seen as taking the most aggressive regulatory stance against the tech industry. France, in particular, passed a law over the summer directly increasing tax payments for online platforms. The legislation, which would hit major companies like Facebook and Google, quickly triggered criticism from US trade officials.

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Google to pay $1.1 billion in France following tax probe.
After a four-year investigation, Google has agreed to pay almost €1 billion ($1.10 billion) to French authorities because it did not fully declare its tax activities in the country, as reported by Reuters. Google's tax status in the European Union has always been contentious. It pays very little tax in most European countries despite doing business on the continent, because a loophole allows it to avoid taxes by essentially running a shell company in Ireland. This well-known loophole is called the Double Irish arrangement and has been described as the largest tax avoidance tool in history. French officials had originally hoped to claim €1.6 billion ($1.

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