FILE PHOTO: The logo of Google is displayed on the high-profile, high-tech start-ups and business leaders, the meeting, Tour-Tech,Paris, France-May 16, 2019 at the latest. REUTERS/Charles Platiau
SYDNEY (Reuters) – the Alphabet Inc, and Google has a “long-term” tax dispute in Australia, the tax authorities, it said on Wednesday, after the payment of An additional$481.5 million, ($326.75 million), on top of the previous bill.
The settlement comes after an investigation that looked at the tech giant’s tax practices between 2008 and 2018, a Google spokeswoman said.
In a separate statement, the Australian Taxation Office (ATO) said, ” it’s just A$1.25 billion after the settlement of tax disputes recently, other technology giants such as Microsoft, Apple, and Facebook, under the Multinational Anti-Avoidance Legislation (MAAL).
“Thanks to the efforts of all cabinet office staff for the tax Evasion task force, and the establishment of the TIMES and the Australian from a sale of these digital giants are now returning to Australia’s tax base,” the cabinet office said in a statement, calling the settlement, e-commerce, you win.”
Facebook, Google, Amazon, and other big technology companies have faced criticism around the world for the reduction of their tax bills due to the booking of profits in low-tax countries, regardless of the location of the customer. Such a practice would be frowned upon by a lot of countries, to be unfair.
A Google spokeswoman said that the settlement with the ATO is to provide certainty on the future tax treatment.
The australian Treasurer, Josh Frydenberg, said in a statement that the business of the tax-avoidance task force, in 2016, and has contributed to the strengthening of the tax compliance of multinationals and large corporations.
“By ensuring the large companies and multi-national corporations pay the right amount of tax, does it mean that we will be able to continue to provide the essential services Australians rely on,” Frydenberg said.
Reporting by Swati Pandey; Editing by Shri Navaratnam