Google's Hefty Payout Ends Italian Tax Evasion Inquiry

Italian prosecutors plan to close a tax evasion investigation against Google after it agreed to a 326 million Euro settlement. This resolves allegations of unpaid taxes on advertising revenues from 2015 to 2019. Google previously settled a tax dispute in France with over USD 1 billion.

Italian prosecutors announced on Wednesday their intention to terminate a tax evasion inquiry involving Google, following the company's agreement to a 326 million Euro settlement.

The Milan-based investigation scrutinized Google's unpaid taxes on advertising revenues within Italy between 2015 and 2019, highlighting its infrastructure presence in the country.

In a statement, Google confirmed that the settlement resolves the tax audit 'without litigation.' Previously, Google paid over USD 1 billion to French authorities to resolve longstanding tax fraud allegations.

(With inputs from agencies.)