Ace Breaking News – MILAN (AP) — Italian prosecutors said Wednesday they will seek to drop a tax evasion investigation against Google after the tech giant agreed to pay a 326 million euro ($340 million) settlement.
Milan prosecutors had opened an investigation against Google for failure to pay taxes on earnings in Italy from 2015 to 2019. The investigation focused on revenues from the sale of advertising and cited the presence of servers and other infrastructure in Italy.
Google acknowledged the settlement in statement, saying it resolves “a tax audit … without litigation.”
Tech giant Google previously paid over $1 billion to French authorities to settle a yearslong dispute over allegations of tax fraud.
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