Amazon agrees to pay 100 million euros to settle Italian tax dispute

The Jolt Journal (https://www.joltjournal.com)

According to a report from Reuters, Italy’s inland revenue service announced on Friday that it has reached an agreement with Amazon to settle outstanding tax claims between 2011 and 2015.

Amazon is on the hook for the equivalent of $118 million in outstanding taxes. The company has agreed with Italy’s inland revenue service to resolve this dispute. Milan tax police in April said that it believe Amazon evaded up to 130 million euros in Italian taxes.

Amazon provided the following statement when asked about the tax settlement:

We have reached an agreement with the tax authorities on historical matters and remain focused on providing a great shopping experience for our customers in Italy, where we have invested more than €800m since 2010 and created over 3,000 jobs. In May 2015, to ensure we had the best business structure to serve our customers going forward, we established a local country branch of Amazon EU Sarl in Italy, with all retail revenues, expenses, profits and taxes due now accounted for in Italy.

Amazon seems to be reaching agreements in settling outstanding problems. The company has now settled on this outstanding tax problem, and has also been working to end its ongoing dispute with Google. The company has already brought Chromecast and Apple TV onto its platform and Apple has released a Prime Video app on the Apple TV. Google may let Fire TV owners keep YouTube on their platform, with talks ongoing. Echo Show previously lost its access to YouTube.

CategoriesAmazon Legal
Hamza Khalid

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