MILAN – 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 2015-2019. The investigation focused on revenues from the sale of advertising, and cited the presence of servers and other infrastructure in Italy.
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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.