Google audited for 'evasion'

Internet giant suspected of dodging 96 million euros in taxes

Google audited for 'evasion'

Rome, November 28 - Tax police in Italy are auditing Google Italia's financial records, the Treasury reported Wednesday. According to the economy ministry, the Internet giant is suspected of failing to declare 240 million euros of revenue and thus dodging 96 million euros in taxes. The company is suspected of declaring revenue earned by the umbrella company Google Inc. and not revenue earned by a subsidiary. In the audit, investigators said that taxes were "evaded" and called some of its accounting "artificial". Google denied the allegations. "Google respects fiscal laws in all countries in which it operates, and we certainly respect Italian laws as well," said a spokesperson. "We will continue to work with local authorities".

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