$ 65 billion in market valuation generated in ... a day

towards a payment of 320 million euros to the Italian tax authorities

After France, it is the turn of the Italian taxman to put pressure on Google and its tax arrangement allowing it to only transfer a tiny part of the taxes in Europe.

Google-Doodle-reveillon-2014 Since 2007, Italy has been conducting a survey to try to determine the extent of the tax optimization of the Mountain View company which allows it to save tens of millions of euros each year.

In 2012, a first Italian report evoked the fact that Google would not have declared 240 million euros of income, and would thus have avoided paying back the equivalent of 96 million euros of VAT to the tax authorities thanks to a well-known arrangement based on the transit of funds to various subsidiaries located in countries with favorable taxation.

Google has always denied taking advantage of the system to avoid paying taxes, however things should change and the firm would have entered into negotiations with Italian services to sign an amicable agreement.

The agreement in question includes a tax adjustment of 320 million euros as well as other terms still unknown. Last year, Google would have donated only 1.8 million euros for its 2014 financial year.