Google to Pay Italy $360Mln in Taxes on Revenue

© AP Photo / Keystone, Walter Bier, fileLogo of Google on the front door of the new Google European tech center in Zurich, Switzerland
Logo of Google on the front door of the new Google European tech center in Zurich, Switzerland - Sputnik International
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According to the newspaper, this sum accumulated over the period covering five years from 2008 to 2013.

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MOSCOW (Sputnik) — Media giant Google will pay 320 million euros (some $360 million) in taxes to the Italian government, the Corriere della Sera newspaper reported Wednesday, citing local authorities.

According to the newspaper, this sum accumulated over the period covering five years from 2008 to 2013.

The requirement to settle unpaid taxes comes from the fact that revenue from advertising in Italy was registered outside the country, in Ireland and Bermuda.

Such a strategy allows companies to pay lower taxes on revenue in countries with more modest tax rates.

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