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

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

World Politics

World & Politics

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange

IMF allocates Ecuador $ 500 mln more to support reforms

French pension reform chief to resign

Poland refuses to join EU 2050 climate deal