Google agrees to $550m fine in France to settle fiscal fraud probe

PARIS: Google agreed to pay a 500 million euro ($548 million) fine in France to settle a fiscal fraud probe that began four years ago, the financial prosecutor’s office said on Thursday.

French investigators have been seeking to establish whether Google, whose European headquarters are based in Dublin, failed to pay its dues to the state by avoiding to declare parts of its activities in the country.

Google, part of Alphabet Inc, pays little tax in most European countries because it reports almost all sales in Ireland. This is possible thanks to a loophole in international tax law but it hinges on staff in Dublin concluding all sales contracts.

“(The agreement allows) to settle once for all these past disputes,” said Antonin Levy, one of Google’s lawyers, at a hearing in the Paris court.

- Advertisement -

12 COMMENTS

  1. Google, part of Alphabet Inc, pays little tax in most European countries because it reports almost all sales in Ireland. This is possible thanks to a loophole in international tax law but it hinges on staff in Dublin concluding all sales contracts.

  2. This is possible thanks to a loophole in international tax law but it hinges on staff in Dublin concluding all sales contracts

Comments are closed.

- Advertisement -

Must Read

Local tea production to be increased to cut down imports

While addressing the golden jubilee celebrations of the Pakistan Tea Association on Saturday, Senator Talha Mahmood, chairman of the Senate Standing Committee on Finance...