Daily Management Review

Google to pay nearly €1 bln of fines and taxes in France


09/13/2019


Google will pay a total of €965 million to settle tax claims of the French authorities, reports Bloomberg. These payments are expected to put an end to the lawsuit against the company in France, which has been going on for four years.



mjmonty via flickr
mjmonty via flickr
Google agreed to pay nearly €1 billion to stop investigation into the company in France, which has been going on for several years. Google will pay a fine of €500 million, the French financial prosecutor said on Thursday, September 12. In addition, the concern agreed to pay €465 million in taxes.

The agreement that Google France and Google Ireland pay a fine was reached as a result of a settlement. French Prosecutor's Office launched an investigation into Google back in 2015.

The French authorities accused Google, which European headquarters is located in Dublin, of the fact that a significant portion of income taxes from operations in France were paid in Ireland.

Google records the majority of its sales in European countries in the accounts of the Irish division, and therefore, a significant part of taxes is paid by the company in Ireland. This is possible due to loopholes in international tax law, and France claims to lose billions of euros in budget revenues as a result.

An agreement to settle this case was approved by the French court on Thursday, and if the company does not withdraw it in the next 10 days, it will enter into force. Under the terms of the agreement, Google admitted validity of the claims, but did not plead guilty.

source: bloomberg.com






Science & Technology

Bain & Company: E-wallets and cheaper transactions are new payment trends

Is UAV drone industry falling into decay?

UK Scotland Yard employs AI to deal with frauds

US sets to fight robocalls outbreak

Top 7 green energy innovators

Volvo’s New Car Uses Blockchain For Recycled Cobalt

False Memories Can Be Created By Fake News On Social Media, Shows A Study

DEF CON Hosts Auto-Makers And Cybersecurity Enthusiasts

WHO found no danger in microplastics in drinking water

Apple starts testing Chinese OLED screens for iPhone 12

World Politics

World & Politics

US Trying To Create An Alliance Against Iran: Pompeo

US FAA invites representatives from 50 countries to discuss 737 MAX certification

Iran Blamed By US’s Pompeo For The Drone Attacks On Saudi Oil Facility

IMF: Georgieva is the only candidate to replace Lagarde

Saudi Arabia to issue tourist visas

USA introduces sanctions against Iranian space agencies

Investments continue to flow into Cape Verde and exceed expectations of Minister of Finance Olavo Correia

USA, UK to create a working group on economics