Trust Bloomberg Tax's Premier International Tax offering for the news and guidance to navigate the complex tax treaty networks and business regulations.
U.S.-based digital multinationals are back in the spotlight in Italy after the House speaker urged “clearer and stronger regulations” for the way those companies are taxed in Italy.
In remarks to parliament June 6, Laura Boldrini called out Amazon.com Inc., Apple Inc., Google, and Facebook Inc. by name. Of the four, only Facebook has escaped investigation by Italian tax officials, although Boldrini in February vocally criticized Facebook for not doing more to limit hate speech.
In late 2015, Apple settled a tax probe in Italy for 318 million euros ($356 million), and Google agreed to terms with Italian tax officials last month for 306 million euros ($343 million). Those cases remain the two largest single tax settlements on record in Italy.
Just days before the Google settlement in May, tax officials opened an investigation into the tax liabilities of Amazon.com, alleging the company owed as much as 130 million euros ($146 million) in unpaid taxes.
The issue of how to tax revenue and profits for multinational digital firms that do so much cross-border business is one of the major challenges facing national tax authorities in Europe, according to analysts.
Italian President Sergio Mattarella was among those on hand for Boldrini’s remarks, although he didn’t comment on the speaker’s statements after the event.
Italy will have a “web tax” measure included in its 2018 budget after the government of Prime Minister Paolo Gentiloni won a risky confidence vote to have it included. But the details of the measure haven’t been finalized, pending debate in the same parliamentary body Boldrini helps oversee.
Spokesmen for Google and Apple didn’t immediately respond to a request for comment.
To contact the reporter on this story: Eric J. Lyman in Rome at firstname.lastname@example.org
To contact the editor responsible for this story: Penny Sukhraj at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)