Amazon to settle Italy tax row with 100m euro: tax office

Amazon has agreed to pay Italian tax authorities 100 million euros ($ 118 million) to settle a dispute over alleged tax evasion, the Italian tax service said Friday.

Italian authorities investigated Amazon for tax evasion between 2011 and 2015, but the case meant the case was now closed, according to a statement.

Quoting investigators, Italian media reported in April that Amazon had established a mechanism to declare some 130 million euros of Italian profits in Luxembourg, which has a tax rate of much lower companies. Italy has already forced other US giants of the Internet to pay taxes owed, including Apple, which agreed in December 2015 to pay 300 million euros to terminate an investigation into tax fraud.

Last May, Google agreed to pay 306 million euros. The tax authorities said on Friday that they would now seek "precautionary agreements" with Amazon to make sure the company pays its Italian profits tax correctly.

He also "confirmed his commitment to a tax audit policy concerning the Italian operations of the multinationals of the Internet".

Amazon stated that the agreement was about "historical issues" and that it had created an Italian subsidiary in 2015 "with all retail revenues, expenses, profits and taxes now due in Italy".

In a statement, Amazon also said it has invested more than $ 800 million in Italy since 2010 "and created more than 3,000 jobs."

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