Andre Yoskowitz
26 Feb 2016 22:08
According to the French finance ministry, the country is seeking $1.76 billion in back taxes from search giant Google - not the first time a European nation has demanded taxes back from the company.
"As far as our country is concerned, back taxes concerning this company amount to 1.6 billion euros," said an official, speaking anonymously.
French tax authorities "issue at least one preliminary assessment before its final assessment," say tax professionals in the country and the final assessment can be challenged in court.
Google recently settled with British tax officials for 130 million pounds for similar complaints. Google and other U.S. giants like Apple and GE have long used tax shelters like Ireland to keep their corporate tax rates low, even if they are making the revenue in places like France and the UK.
Source:
Reuters