Amazon to pay 100 million euros to settle Italy tax disputeStaff Writer | December 16, 2017
Italy's tax authority said on Friday it had reached an agreement with e-commerce giant Amazon to settle outstanding tax claims covering the period 2011-2015.
Taxes Considerable investments in the country
In April, Milan tax police said it believed the world's largest online retailer had evaded 120-130 million euros of taxes in Italy, a source told Reuters.
At the time Amazon said its profits in Italy, on which taxes are paid, had been low due to its considerable investments in the country.
The group confirmed in a statement on Friday it had reached an agreement with the authorities "on matters of the past", without giving details.
"In May 2015... we have created an Italian subsidiary which registers all revenues, expenses profits and owed taxed in Italy for its retail sales," it said.
It added the company had invested over 800 million euros since setting up in the country, in 2010, and employs over 3,000 people. ■