Google Is Bracing for Hefty Fine for Tax Noncompliance in France
Google could receive yet another fine in Europe for avoiding to pay taxes
Google is all about paying fines these days, it seems. The latest one is in France, where the local fiscal authority is looking to make Google pay for tax noncompliance.In 2011, Google reported €138 million ($190 million) in revenue, which seems quite low for a company this size. In fact, reports dating back to 2012 indicate that the company actually owed French authorities €1 billion ($1.4 billion) in taxes, TechCrunch reports.
“In March 2014, we received a tax assessment from the French tax authorities. We believe an adequate provision has been made and it is more likely than not that our tax position will be sustained. However, it is reasonably possible that resolution with the French tax authorities could result in an adjustment to our tax position,” reads Google’s earnings report, indicating that the Internet giant is in fact bracing for a fine.
Google has been denying accusations that it has been avoiding to pay taxes, but then again, France isn’t exactly the only country in Europe where the company hasn’t been paying the proper sums. As a matter a fact, since Google usually conducts business through Ireland, the company claims it shouldn’t have to pay taxes in all countries it operates in.
Of course, European leaders are none too happy and actually working on finding a way to make sure tech companies pay taxes in all countries, since Google isn’t the only culprit.
Google could soon be fined by the French authorities
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